BEIJING, April 28 (Xinhua) -- China's central bank on Thursday conducted 10 billion yuan (about 1.52 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system.The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People's Bank of China.The move aims to keep liquidity in the banking system reasonably stable, 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.
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BEIJING, April 28 (Xinhua) -- While complex domestic and international economic situations weigh on businesses amid a lingering COVID-19 pandemic, China's foreign trade enterprises will see their cash flow problems eased by a raft of relief policies.Despite the solid growth in foreign trade in the first quarter of 2022, Chinese regulators are taking note of increasing challenges and difficulties faced by enterprises, Yuan Xiaoming, an official with the Ministry of Commerce (MOC), told a press conference on Thursday.Globally, slower economic recovery, rising inflation pressure and bottlenec...
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BEIJING, April 27 (Xinhua) -- Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee, chairman of the Central Military Commission, and director of the Central Commission for Financial and Economic Affairs (CCFEA), presided over the 11th meeting of the CCFEA on Tuesday to discuss matters on comprehensively advancing infrastructure development and implementing decisions and plans made by the CCFEA since the 19th CPC National Congress in 2017.Infrastructure is the bedrock for economic and social development. It is essential to coordinate devel...
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BEIJING, April 27 (Xinhua) -- Chinese President Xi Jinping sent a congratulatory letter to the First Innovation Exchange Conference for Craftsmen of the Nation, which opened in Beijing on Wednesday. Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, called for contributing wisdom and strength to high-quality development and the implementation of the strategy to build the country into a leader in manufacturing. On behalf of the CPC Central Committee, Xi extended sincere greetings to skilled workers, model...
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BEIJING, April 26 (Xinhua) -- China's central bank will promote the steady and healthy development of the financial market and foster a sound monetary and financial environment.The People's Bank of China made the remarks Tuesday in response to recent financial market fluctuations which are mainly driven by investor expectations and sentiment.China's financial system has been coordinating COVID-19 control with economic and social development, smoothening logistics as well as industrial and supply chains, the bank said.To advance the healthy development of the platform economy, the r...
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