Briefly

H1 tea trade volume up; imports reach $72m

The foreign trade volume of tea on the Chinese mainland reached 196,400 metric tons during the first half of this year, up 2.21 percent year-on-year, according to the Tea Industry Committee of China Association for the Promotion of International Agricultural Cooperation. During the period, China's import volume of tea reached 24,400 tons, up 41.5 percent year-on-year, while the import value of tea reached $72 million, up 10 percent year-on-year.

Reverse repos add $94m to liquidity

The People's Bank of China, the country's central bank, conducted 670 million yuan ($94 million) of seven-day reverse repos at an interest rate of 1.7 percent on Monday. The move aims to keep liquidity reasonable and ample in the banking system. 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