Briefly

Reverse repos add 10b yuan to liquidity

The People's Bank of China, the country's central bank, on Wednesday 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.

Qingdao Multinationals Summit on June 20-21

The third Qingdao Multinationals Summit will be held in Qingdao, East China's Shandong province, from June 20 to 21, the Ministry of Commerce announced on Wednesday. Approved by the State Council, China's Cabinet, the event will be co-hosted by the Ministry of Commerce and the Shandong provincial government. The summit will be held both online and offline, and bring together senior executives from multinational companies, government officials, economists and representatives of international organizations, foreign embassies and consulates in China, and global business associations, said Qian Keming, vice-minister of commerce.

Xinhua - China Daily