Briefly

10b yuan reverse repos boost liquidity

The People's Bank of China, the central bank, on Thursday conducted 10 billion yuan ($1.5 billion) of seven-day, 2.1 percent reverse repos to maintain reasonably stable liquidity in the banking system. 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.

SAIC Motor expects strong overseas sales

Shanghai-based carmaker SAIC Motor said it expects to sell more than 70,000 vehicles overseas this month, up 60 percent year-on-year. On Wednesday, a ship set sail from Shanghai Haitong Pier with more than 3,000 cars, including over 1,000 from SAIC Motor. It will reach Australia after 12 to 14 days. SAIC Motor aims to sell 800,000 vehicles overseas this year, up 15 percent year-on-year.

Xinhua