Briefly

Power consumption in Shenzhen rises

Shenzhen, a technological powerhouse in South China's Guangdong province, saw its electricity consumption reach 110.3 billion kWh in 2021, up 12.2 percent from 2020, hitting a record high. High-end manufacturing, information transmission and green and low-carbon industries continue to take up a growing share of Shenzhen's total electricity consumption, highlighting the high-quality development of the city's economy, according to the Shenzhen branch of the China Southern Power Grid.

PBOC conducts reverse repos

China's central bank on Thursday injected 10 billion yuan ($1.57 billion) into the financial system via reverse repos. The interest rate for the seven-day reverse repos was set at 2.2 percent, according to the People's Bank of China. With 110 billion yuan of reverse repos maturing on the same day, the move resulted in net liquidity withdrawal of 100 billion yuan from the market. The move aims to keep the liquidity in the banking system reasonably stable, the central bank 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.

Bulk commodity market rebounds

China's bulk commodity market rebounded in December, as supplies and stockpiles picked up during the period, industrial data show. The China Bulk Merchandise Index, a gauge of domestic bulk commodity market activities, came in at 100.9 percent last month, slightly above the boom-bust line of 100 percent and marking the highest level in six months, according to the China Federation of Logistics and Purchasing. The federation attributed the growth to increasing supplies, with the bulk commodity supply sub-index rebounding to an eight-month high of 102 percent in December.

Xinhua