Briefly

SOE profits surge 30% to $715b

The combined profits of China's State-owned enterprises surged 30 percent year-on-year to nearly 4.52 trillion yuan ($715 billion) in 2021, official data showed on Wednesday. The SOEs raked in 75.55 trillion yuan in operating revenue last year, up 18.5 percent year-on-year, according to data from the Ministry of Finance.

Shanxi trade value expands 48% to $35b

Imports and exports of Shanxi province increased by 48 percent to over 223 billion yuan ($35 billion) in 2021, Taiyuan Customs said on Wednesday. Last year, Shanxi's exports reached 137 billion yuan, up 56 percent, while its imports totaled 86 billion yuan, up 37 percent.

Reverse repos pull in 200b yuan

The People's Bank of China, the central bank, on Wednesday conducted 200 billion yuan ($31.6 billion) of 14-day, 2.25 percent reverse repos to keep liquidity in the banking system stable ahead of the Spring Festival. 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.

Xinhua