Briefly

Foreign trade value expands in Shanghai

Shanghai's imports and exports reached 3.17 trillion yuan ($441.6 billion) in the first three quarters, up 2.7 percent year-on-year, said Shanghai Customs. Over the period, Shanghai's exports rose 3.9 percent to 1.3 trillion yuan, while its imports increased 1.8 percent to 1.87 trillion yuan. Shanghai's trade with the European Union amounted to 638.23 billion yuan, up 5.4 percent, accounting for 20.2 percent of its total foreign trade volume over the period.

PBOC adds liquidity via reverse repos

China's central bank conducted 424 billion yuan ($59.07 billion) in seven-day reverse repos at an interest rate of 1.8 percent on Thursday. 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. 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