Briefly

New energy power generation up in Shanxi

North China's coal-rich Shanxi province's new energy power generation surpassed 68.55 billion kilowatt-hours in 2022, according to State Grid Shanxi Electric Power Co. It means that around 16.67 percent of electricity was generated by green power in the province, and the utilization rate of green power production reached 98.6 percent. By the end of last year, the province's total installed power generation capacity had surpassed 120 million kilowatts, among which capacity produced by wind and solar power accounted for 33.23 percent, rising to over 40.13 million kilowatts. As China's leading energy base, Shanxi is key to the country's energy supply and electricity transmission.

Reverse repos net 117b yuan, buoy liquidity

The People's Bank of China, the country's central bank, on Thursday conducted 117 billion yuan ($17.3 billion) of reverse repos to keep liquidity stable ahead of the weeklong Spring Festival holiday starting Jan 22. The amount included 65 billion yuan of seven-day reverse repos at an interest rate of 2 percent, and 52 billion yuan of 14-day reverse repos at an interest rate of 2.15 percent. 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