Mengniu's operating profit up in 2023

China Mengniu Dairy Co Ltd posted an operating profit of 6.17 billion yuan ($870 million) in 2023, up 13.8 percent year-on-year, the company said in its annual report. Revenue totaled 98.62 billion yuan last year, marking a year-on-year increase of 6.5 percent, according to the report. Its liquid milk business contributed 82.07 billion yuan in revenue, followed by contributions from the ice cream, cheese and milk powder businesses.

PBOC adds liquidity via reverse repos

China's central bank conducted 250 billion yuan ($35.24 billion) of seven-day reverse repos at an interest rate of 1.8 percent on Wednesday. The move aims to keep liquidity in the banking system stable at the end of the quarter, the People's Bank of China said in a statement.