Briefly

PBOC adds liquidity via reverse repos

China's central bank conducted 438 billion yuan ($61.66 billion) of seven-day reverse repos at an interest rate of 1.8 percent on Wednesday. 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.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 101 pips to 7.1031 against the US dollar on Wednesday, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

Policy bank issues special energy loans

The China Development Bank, a policy lender, has issued more than 100 billion yuan ($14 billion) of special loans to support energy supply since the beginning of this year. The loans aim to support main coal-producing areas and key coal enterprises to increase the supply of thermal coal, as well as help disaster-stricken areas and key power enterprises to reserve thermal coal, it said. The funds are expected to ensure heating and energy supplies during the winter and coming spring.

Xinhua - China Daily