Briefly

Anta posts higher H1 revenue, profit

Major Chinese athletic apparel brand Anta Sports reported double-digit growth in both revenue and profit in the first half. The group's revenue reached 29.6 billion yuan ($4.1 billion), marking a 14.2 percent rise year-on-year and a 100.2 percent surge from the same period of 2019, Anta said in its interim results. Among its top line, the Anta brand contributed about 14.2 billion yuan, while the Fila brand contributed 12.2 billion yuan. Net profit of the Fujian province-based company in the first six months rose 34 percent to some 5.3 billion yuan. The group's operating profit margin increased to 25.7 percent during the period.

Central bank conducts reverse repos

China's central bank conducted 301 billion yuan ($41.81 billion) in seven-day reverse repos at an interest rate of 1.8 percent on Wednesday. The move aims to keep liquidity in the banking system reasonable and ample, the People's Bank of China said in a statement. A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Xinhua - China Daily