Briefly

Telecom sector logs sound performance

China's telecommunications industry logged strong performance in the first seven months, with emerging businesses and 5G services registering steady growth, according to official data. Companies in the sector raked in a combined revenue of 1.01 trillion yuan ($140.51 billion) during the period, up 6.2 percent year-on-year, said the Ministry of Industry and Information Technology.

Central bank conducts reverse repos

China's central bank conducted 332 billion yuan ($46.2 billion) in seven-day reverse repos at an interest rate of 1.8 percent on Monday. The move aims to keep liquidity in the banking system stable at the end of the month, the People's Bank of China said in a statement.

Xinhua - China Daily