Briefly

Hudong-Zhonghua delivers containership

Hudong-Zhonghua Shipbuilding (Group) Co Ltd delivered one of the world's largest containerships with a capacity of 24,000 TEUs (twenty-foot equivalent units) to its customer Evergreen Group on Wednesday. The first of its kind built by a Chinese company, the vessel signifies a breakthrough in China's capability to build ultra-large containerships. Designed independently by Hudong-Zhonghua, a subsidiary of China State Shipbuilding Corporation, the vessel is 399.99 meters long and 61.5 meters wide.

Reverse repos add 10b yuan to system

The People's Bank of China, the country's central bank, on Wednesday conducted 10 billion yuan ($1.49 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.

China Daily - Xinhua