Briefly

PBOC adds liquidity via reverse repos

China's central bank conducted 27 billion yuan ($3.8 billion) of seven-day reverse repos at an interest rate of 1.8 percent on Thursday. The move aims to keep liquidity in the banking system reasonable and ample, the People's Bank of China said in a statement. 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.

Region handles more freight trains to Europe

The Beijing-Tianjin-Hebei region handled 1,059 China-Europe and China-Central Asia freight trains last year, expanding freight services to countries and regions including Russia, Mongolia and Germany. In 2023, the region handled 335 trains serving the China-Europe route and 724 trains serving the China-Central Asia route, said China Railway Beijing Group Co Ltd. The freight trains departed from cities like Tianjin and Hebei province's Shijiazhuang, extending their reach to Central Asia and Europe through ports such as the Inner Mongolia autonomous region's Ereenhot and Manzhouli, and Horgos in the Xinjiang Uygur autonomous region.

Xinhua - China Daily