Briefly

Telecom industry sees steady expansion

China's telecommunications industry logged steady expansion in the first 11 months of this year, with emerging businesses and new infrastructure rapidly growing, official data showed. The combined business revenue of firms in the sector topped 1.45 trillion yuan ($207.66 billion), up 8 percent year-on-year, according to the Ministry of Industry and Information Technology. The total business volume of the sector was 21.4 percent higher year-on-year if calculated at the constant price of last year, said the ministry.

Central bank conducts reverse repos

China's central bank on Tuesday conducted 208 billion yuan ($29.9 billion) of reverse repos to maintain liquidity in the banking system. The amount included 194 billion yuan of seven-day reverse repos at an interest rate of 2 percent, and 14 billion yuan of 14-day reverse repos at an interest rate of 2.15 percent, according to the People's Bank of China. The move is aimed at keeping liquidity stable in the banking system at the end of the year, the central bank said.

Xinhua - China Daily