Briefly

Bridge deepens Yangtze integration

Integration of the delta region of China's longest river Yangtze deepened when construction for the Caishi River Superbridge got started for a metro line linking neighboring Anhui and Jiangsu provinces. Builders from State-owned China Tiesiju Civil Engineering Group began to dig holes for the railway-bridge on Wednesday, which is part of the 65-kilometer line linking Anhui's Maanshan and Jiangsu's Nanjing. Expected to cut inter-city travel time to 40 minutes upon completion, Maanshan-Nanjing Metro will greatly boost movement of goods and services, according to China Tiesiju Civil Engineering Group. It is also considered a key knot in the Belt and Road Initiative.

PBOC conducts reverse repos

China's central bank on Friday conducted 10 billion yuan ($1.58 billion) of reverse repos to maintain liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People's Bank of China. 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.

China Daily - Xinhua