Briefly

Central bank conducts reverse repos

China's central bank conducted 24.8 billion yuan ($3.38 billion) of seven-day reverse repos at an interest rate of 1.5 percent on Monday. The move aims to keep liquidity in the banking system at an adequate level, the central bank 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.

Development index of SMEs picks up

China's small and medium-sized enterprises saw improved business performances between October and December 2024, according to a report from the China Association of Small and Medium Enterprises released on Sunday. The Small and Medium Enterprises Development Index, based on a survey of 3,000 SMEs across eight major industries, stood at 89.0 in the fourth quarter of last year, 0.1 point higher than in the third quarter. The index also contains multiple subindexes to gauge the performances and expectations of SMEs. The subindexes for industrial production, construction and transportation all showed improvement, while the subindex measuring SMEs' confidence in the macroeconomy remained stable compared to the third quarter, according to the report. SMEs saw a gradual improvement in both confidence and market demand, leading to a surge in development vitality.

Xinhua - China Daily