Briefly

PBOC adds liquidity via reverse repos

China's central bank conducted 2 billion yuan ($281.29 million) of seven-day reverse repos at an interest rate of 1.8 percent on Tuesday. 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.

Express delivery sector expands

China's courier sector saw double-digit growth in both business volume and revenue during the first four months amid a domestic consumption boom, said the State Post Bureau. Express delivery firms nationwide handled 50.81 billion parcels during the period, soaring 24.5 percent year-on-year.

Xinhua - China Daily