Briefly

China cuts retail prices of gasoline, diesel

China lowered retail prices of gasoline and diesel on Wednesday, based on recent changes in international oil prices. Gasoline prices will be reduced by 55 yuan ($7.7) per metric ton, and diesel prices by 50 yuan per ton, according to the National Development and Reform Commission. Under the current pricing mechanism, prices of refined oil products are adjusted following changes in international crude oil prices.

PBOC adds liquidity via reverse repos

China's central bank conducted 240 billion yuan ($33.74 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 reasonable and ample, the People's Bank of China said in a statement.

Xinhua - China Daily