Central SOEs' profits reach $338b
For the January-November period, the profits of China's centrally administered State-owned enterprises reached a stable 2.4 trillion yuan ($338.2 billion), the State-owned Assets Supervision and Administration Commission of the State Council said. The fixed-asset investment of central SOEs, including real estate, expanded 9 percent year-on-year to 4.1 trillion yuan, SASAC data showed.
Reverse repos add $59b to liquidity
The People's Bank of China, the country's central bank, conducted 421 billion yuan ($59.29 billion) of seven-day, 1.8 percent reverse repos on Wednesday, to keep liquidity reasonable and ample at the end of the year. A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.
Xinhua - China Daily
