Briefly

PBOC conducts reverse repos to boost liquidity

China's central bank on Thursday conducted 10 billion yuan ($1.4 billion) 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 People's Bank of China. The move aims to keep liquidity in the banking system stable, the central bank said. A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Blockchain should play a bigger role

Blockchain technology should be applied deeper and wider to facilitate information exchanges within a certain industry or between industries, Zhang Chao, president of OKLink, a blockchain service provider, said during a recent data forum. With data becoming an increasingly significant market resource, blockchain should be given a bigger role in data management and sharing to realize greater data value, Zhang said at the Global Data Ecosystem Conference 2022 in Singapore in late November. Zhang said he believes the blockchain will be a "critical gear" in the future internet industry, transferring information and data accurately.

China Daily - Xinhua