Briefly

Volkswagen launches NEV for local market

Volkswagen Anhui officially launched its first new energy vehicle for the Chinese market on Wednesday in Hefei, capital of East China's Anhui province. The new model, ID.UNYX, is Volkswagen's first smart electric coupe SUV. It has a maximum range of 621 kilometers and is equipped with an 82.4 kilowatt-hour battery from CATL.

Central bank conducts reverse repos

China's central bank conducted 49 billion yuan ($6.87 billion) of seven-day reverse repos at an interest rate of 1.8 percent on Thursday. 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