Briefly

PBOC adds liquidity via reverse repos

China's central bank conducted 2 billion yuan ($281.5 million) of seven-day reverse repos at an interest rate of 1.8 percent on Thursday. The move aims to keep liquidity reasonable and ample in the banking system, 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.

Standard Chartered opens branch in Hefei

Standard Chartered on Wednesday opened a branch in Hefei, capital of Anhui province in East China, as the British banking giant beefs up its presence in the country. Standard Chartered now has a presence in all four major regions in the Yangtze River Delta, namely Shanghai, Zhejiang, Jiangsu and Anhui.

Xinhua - China Daily