Briefly

Balance of loans in Shanghai rises

The balance of loans in Shanghai, including all currencies, stood at 10.82 trillion yuan ($1.57 trillion) at the end of March, up 8.1 percent year-on-year, according to official data. The balance of loans denominated in the Chinese yuan in Shanghai reached 10.15 trillion yuan at the end of March, up 9.8 percent from a year earlier, according to the People's Bank of China Shanghai Head Office. The balance of foreign currency loans stood at $96.8 billion at the end of March, down 19.1 percent year-on-year.

PBOC adds liquidity via reverse repos

China's central bank injected funds into the financial system through open market operations on Tuesday. The People's Bank of China said it has conducted 170 billion yuan ($24.69 billion) of seven-day reverse repos at an interest rate of 2 percent. The move aims to keep month-end liquidity in the banking system stable, according to the central bank.

Xinhua - China Daily