Briefly

Foreign trade up in Yangtze River Delta

The total foreign trade value of the Yangtze River Delta region reached 9.1 trillion yuan ($1.28 trillion) in the first seven months, hitting a record high, Shanghai Customs said. This figure translates into a 5.8 percent year-on-year foreign trade value increase in the region, while accounting for 36.7 percent of China's total foreign trade value in the first seven months. The value of automobile exports reached 180.63 billion yuan, up 2.7 percent, accounting for 39 percent of the country's total auto export value during the period.

Central bank conducts reverse repos

China's central bank conducted 258 billion yuan ($36.18 billion) of seven-day reverse repos at an interest rate of 1.7 percent on Wednesday. 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