Briefly

Jiangsu trade growth up 13.4% in Jan-Feb

East China's Jiangsu province reported a foreign trade volume of 850.4 billion yuan ($119.9 billion) in the first two months, up 13.4 percent year-on-year, said Nanjing Customs. During the period, the province's exports rose 11.9 percent to 541.6 billion yuan, while imports stood at 308.8 billion yuan, up 16.2 percent. January-February trade volume of Jiangsu's private enterprises surged 28.1 percent, reaching 396.9 billion yuan, accounting for 46.7 percent of the province's total trade. Foreign-funded enterprises in the province contributed 45.6 percent to the overall trade volume.

PBOC adds liquidity via reverse repos

China's central bank conducted 3 billion yuan ($422.69 million) in 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.

Xinhua - China Daily