Briefly

Overnight reverse repos scheduled

The People's Bank of China will conduct overnight reverse repo operations on Aug 14 and from Aug 17 to Aug 19, to better meet the short-term liquidity needs of the banking system. The operations will be conducted at a fixed interest rate through quantity-based bidding, with the daily amount capped at 600 billion yuan ($88 billion), according to the PBOC. Overnight reverse repo is a process in which the central bank purchases securities from commercial banks through a bidding process, with an agreement to sell them back the next day.

New air route to Romania, Croatia

Air China will launch a new route connecting Beijing with Romania's Bucharest and Croatia's Zagreb, starting Sept 4, the airline announced. The new service will link Beijing Capital International Airport with Zagreb via Bucharest, with flights scheduled for every Monday, Wednesday and Friday. The carrier now serves 27 destinations across Europe, operating nearly 260 flights weekly.

XINHUA-CHINA DAILY