Briefly

PBOC conducts reverse repos

China's central bank on Thursday injected 10 billion yuan ($1.6 billion) into the financial system via reverse repos. The interest rate for the seven-day reverse repos was set at 2.2 percent, said the People's Bank of China. The move aims to keep liquidity in the banking system reasonably stable, the PBOC said. A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Long railway tunnel dug through in Anhui

Construction of a 289.8-kilometer high-speed railway linking East China's Anhui and Jiangxi provinces received a major boost on Tuesday when the last long mountain tunnel was dug through in Anhui after more than 30 months of hard work. The 6,449.4-meter Yuntoushan Tunnel, one of 40 railway tunnels in the Anhui section and dug by China Tiesiju Civil Engineering Group, is part of the Nanchang-Jingdezhen-Huangshan High-speed Railway. The railway, having commenced its construction on Dec 25, 2018, is scheduled to begin service in 2022 with 10 stops and a top speed of some 350 kilometers per hour. It is expected to help promote tourism and economic progress of the two provinces.

Fair draws 6.5m tons in online orders

More than 6.5 million tons of agriproducts were ordered online at the ongoing China (Hainan) International Winter Trade Fair for Tropical Agricultural Products, local authorities said on Thursday. Covering an area of around 100,000 square meters, the event started on Thursday in Haikou, capital of South China's Hainan province. The orders, including 48 kinds of agricultural products, livestock products and aquatic products from different parts of Hainan, reached an intended order amount of 54 billion yuan ($8.5 billion), up 7.3 percent year-on-year.

Xinhua - China Daily