Briefly

Guangxi ships more goods to Vietnam

In the first seven months of 2024, a total of 6,850 twenty-foot equivalent unit containers of goods were shipped via China-Vietnam freight trains departing from South China's Guangxi Zhuang autonomous region, marking a 16-fold increase year-on-year, according to China Railway Nanning Group Co Ltd. In July, a total of 1,922 TEU containers were shipped, surpassing the total shipment volume for the entire first quarter of this year. The China-Vietnam freight train service, launched in November 2017, has seen the number of trains rise from fewer than five per month to three trains per week.

Central bank conducts reverse repos

China's central bank conducted 7.1 billion yuan ($993.6 million) of seven-day reverse repos at an interest rate of 1.7 percent on Thursday. The move aims to keep liquidity reasonable and ample in the banking system, the People's Bank of China said. 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