Briefly

Temporary repos, rev repos to improve OMOs

The People's Bank of China, the country's central bank, said it will carry out temporary repos or reverse repos based on market conditions from Monday. The move aims to keep liquidity reasonable and ample in the banking system and improve the accuracy and effectiveness of open market operations, the PBOC said. The overnight temporary repos and reverse repos will be conducted through bidding, with their interest rates set based on the seven-day reverse repos.

NEV registrations in H1 hit new high

A record 4.397 million new energy vehicles were newly registered in China in the first half, up 39 percent year-on-year, bringing the total number of NEVs on the road to 24.72 million by the end of June, official data showed on Monday.

Xinhua - China Daily