Briefly

Anhui Q1 foreign trade grows 2% y-o-y

East China's Anhui province saw its foreign trade reach 177.26 billion yuan ($25.7 billion) in the first quarter of 2023, up almost 2 percent year-on-year. During the period, the province's exports climbed 15.5 percent year-on-year to 118.32 billion yuan. Its actual use of foreign investment increased 42.2 percent year-on-year to $610 million, with the high-tech and manufacturing industries posting robust growth that was 2.3 times and 1 time higher respectively than the levels seen during the same period in 2022, said the provincial commerce department. The volume of trade between the province and the Association of Southeast Asian Nations hit 21.92 billion yuan, up 14.9 percent year-on-year.

Heilongjiang imports and exports rise

China's northernmost province of Heilongjiang saw its foreign trade in goods grow 29.6 percent year-on-year to 71.98 billion yuan ($10.4 billion) in the first quarter of 2023, according to local Customs. Over the period, Heilongjiang's imports rose 26.6 percent year-on-year to 57.5 billion yuan, while its exports grew more than 43 percent to 14.46 billion yuan, data from Harbin Customs showed. The province's trade with countries participating in the Belt and Road Initiative reached 56.98 billion yuan, up 30 percent year-on-year, accounting for more than 79 percent of the province's total foreign trade volume.

Reverse repos add 88b yuan to liquidity

The People's Bank of China, the country's central bank, on Friday injected 88 billion yuan ($12.8 billion) into the financial system through open market operations, in the form of seven-day, 2 percent reverse repos, to keep liquidity in the banking system reasonable and ample. 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