Briefly

Smart cockpit system in the pipeline

Baidu Inc, Jidu Automotive and Qualcomm Technologies Inc announced that Jidu's first mass-produced model will use an intelligent digital cockpit system supported by Baidu and Qualcomm Technologies. This system is based on the fourth-generation Snapdragon automotive cockpit platform from Qualcomm, together with the next-generation intelligent cockpit system and software solution developed by Jidu and Baidu. The Jidu vehicles featuring the new digital cockpit are expected to be available in 2023 and are set to be the first production vehicles to feature a Snapdragon 4th Generation automotive cockpit platform in China. Attendees of the Beijing auto show will be able to preview the Jidu concept vehicle in April 2022.

Bills swap to boost perpetual bonds

The People's Bank of China, the central bank, conducted this year's 11th central bank bills swap operation on Tuesday to improve the liquidity of perpetual bonds issued by commercial banks. The CBS, valued at 5 billion yuan ($783.77 million), is open to primary dealers for bidding at a fixed rate of 0.1 percent. To be due on Feb 28, 2022, Tuesday's CBS scheme allows dealers to swap the perpetual bonds they hold for central bank bills, which will boost market demand for perpetual bonds but have a neutral impact on liquidity in the banking system. Perpetual bonds are fixed-income securities with no maturity date and are not redeemable but pay a steady stream of interest in perpetuity.

Xinhua - China Daily