Briefly

Better environment for foreign firms pledged

Vice-Premier Ding Xuexiang said China is willing to create a more favorable environment and better conditions for foreign-invested enterprises to invest and prosper in China. Ding made the comment on Wednesday in Beijing during a meeting with Oliver Blume, chairman of Volkswagen's board of management. Noting the good prospects for China-Germany cooperation in the automotive sector, Ding said China welcomes Volkswagen to continue to leverage its strengths, expand investment in China and achieve greater development through mutually beneficial cooperation. Blume said he appreciates China's strong support for Volkswagen's development, saying that the German auto group cherishes its friendship with China and the Chinese people.

PBOC adds liquidity via reverse repos

China's central bank conducted 102 billion yuan ($14.21 billion) of seven-day reverse repos at an interest rate of 1.8 percent on Wednesday. The move aims to keep liquidity stable in the banking system, the People's Bank of China said in a statement.

Xinhua - China Daily