Briefly

Central bank conducts reverse repos

China's central bank on Wednesday 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. With 10 billion yuan of reverse repos maturing on the same day, this led to a net zero injection into the market. The move aims to keep 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.

Ankai exports natural gas buses to Mexico

Anhui Ankai Automobile Co Ltd has delivered 800 passenger buses powered by natural gas to Mexico, marking China's largest passenger bus export order to Mexico to date. The eco-friendly buses will run on natural gas and be put into use in Mexico's third-largest city of Monterrey. The vehicles are tailored to meet local market demand in the city, including its climate and traffic conditions. They are equipped with Wi-Fi coverage and other intelligent systems, the company said. The growing global trend of low-carbon development has made buses powered by clean energy more and more popular in Mexico. Ankai has been exporting eco-friendly vehicles to Mexico since 2017.

Xinhua