Briefly

China raises gasoline, diesel retail prices

China raised retail prices of gasoline and diesel on Thursday following recent increases in international oil prices. Gasoline prices were up by 275 yuan ($38.57) per metric ton, and diesel prices by 260 yuan per ton, the National Development and Reform Commission said in a statement. Under the current pricing mechanism, prices of refined oil products are adjusted following changes in global crude oil prices.

Road logistics price index edges down

China's road logistics price index edged down in June as the growth of supply surpassed that of demand, industry data showed. The index came in at 102.4 last month, dipping 0.17 percent from the previous month and down 0.32 percent year-on-year, according to a survey jointly conducted by the China Federation of Logistics and Purchasing and Guangdong Lin'an Logistics Group. The subindex for full-truckload logistics, which mainly measures bulk commodity and regional transportation, fell 0.19 percent month-on-month, a decrease of 0.33 percent from the same period last year, according to the survey.

PBOC adds liquidity via reverse repos

China's central bank continued to inject funds into the financial system through open market operations on Thursday. The People's Bank of China said it conducted 114 billion yuan ($16 billion) of seven-day reverse repos at an interest rate of 1.9 percent. The move is aimed at keeping liquidity stable at the end of the month, the central bank said. 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