Briefly

PBOC adds liquidity via reverse repos

China's central bank on Thursday conducted 2 billion yuan ($290.6 million) of reverse repos to maintain liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2 percent, said the People's Bank of China. The move aims to maintain stable liquidity in the banking system, the central bank said.

Public offering funds hit 27.06 trillion yuan

Assets under management by China's public offering funds totaled 27.06 trillion yuan ($3.93 trillion) by the end of July, the Asset Management Association of China said on Wednesday. As of the end of July, a total of 10,123 public offering funds were being operated by 140 fund management companies, said the association, an industry body supervised by China's securities regulator. The scale of closed-ended funds exceeded 3.22 trillion yuan, while that of open-ended funds stood at about 23.84 trillion yuan, it said.

Xinhua