Briefly

SOEs see increasing revenue, profits

China's State-owned enterprises registered steady expansion in the first five months of the year, with both revenue and profits growing, official data showed on Monday. These companies generated 32.85 trillion yuan ($4.61 trillion) in combined operating revenue in the January-May period, up 3.1 percent year-on-year, according to the Ministry of Finance. Profits of these companies totaled 1.71 trillion yuan from January to May, with a year-on-year increase of 2.3 percent. Their debt-to-asset ratio reached 64.9 percent at the end of May, the data showed.

Station roads to be decongested

Hefei West Railway Station, a major transportation hub in Anhui province, received better infrastructure support as State-owned builders participating in the construction of an overpass connected with the station reported big progress. China Railway 24th Bureau Group Corp said the construction of an overpass on Qingxi Road, which will link the station with the main road network of the provincial capital, took a stride forward as the last box girder was launched recently. CR24 said in a construction report that the heavy traffic on roads linked to the station will be eased upon completion of the road.

PBOC adds liquidity via reverse repos

The People's Bank of China, the country's central bank, conducted 50 billion yuan ($7.02 billion) of seven-day, 1.8 percent reverse repos on Monday to keep liquidity stable at the end of the first half of this year. 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