Briefly

Central bank conducts reverse repos

China's central bank conducted 41.7 billion yuan ($5.9 billion) worth of seven-day reverse repos at an interest rate of 1.5 percent on Tuesday. The move aims to keep liquidity in the banking system reasonable and ample, 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.

Hainan duty-free sales exceed $111m

Offshore duty-free shops on South China's island province of Hainan generated 785 million yuan ($111 million) in sales during the recent National Day holiday, local Customs said on Tuesday. Hainan's offshore duty-free shops received some 110,200 customers with per capita spending of 7,124 yuan during this period, Haikou Customs confirmed.

Xinhua - China Daily