Briefly

Reverse repos add 2b yuan to system

The People's Bank of China, the country's central bank, on Wednesday conducted 2 billion yuan ($294.93 million) of seven-day, 2.1 percent reverse repos to maintain 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-Europe freight trains accelerate in July

China-Europe freight train services saw robust growth in July amid a safe and smooth operation, according to China State Railway Group Co Ltd. The number of China-Europe freight train trips surged by 11 percent year-on-year to reach a record 1,517 last month. The freight trains handled 149,000 twenty-foot equivalent units, or TEUs, of goods, up 12 percent year-on-year. During the first seven months, the number of China-Europe freight train trips rose 3 percent year-on-year to 8,990.

Xinhua - China Daily