Briefly

New PV project connected to grid

Tarim Oilfield — operated by China National Petroleum Corp, the country's leading oil and gas producer — has successfully connected a 600,000-kilowatt photovoltaic power generation project to the grid in Northwest China's Xinjiang Uygur autonomous region. Total installed solar power capacity of the oilfield has leapt to 1.3 million kW.

PBOC adds liquidity via reverse repos

China's central bank conducted 339 billion yuan ($47.69 billion) in 14-day reverse repos at an interest rate of 1.95 percent on Tuesday. The move aims to keep liquidity stable ahead of Spring Festival that falls on Saturday this year, 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