Briefly

Chinese firm advances Nigerian light rail

The last track beam of a light rail project undertaken by a Chinese company in southwest Nigeria's economic hub Lagos was laid successfully on Wednesday. With this, the project entered the final stage of construction. The 27-kilometer-long Lagos Blue Line Rail Mass Transit project, constructed by the China Civil Engineering Construction Corp, is expected to ease serious traffic congestion in the city.

Reverse repos add 2b yuan to banking system

The People's Bank of China, the country's central bank, on Thursday conducted 2 billion yuan ($295 million) of seven-day, 2 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.

Xinhua - China Daily