PBOC adds liquidity via reverse repos

China's central bank conducted 2 billion yuan ($280.5 million) of seven-day reverse repos at an interest rate of 1.8 percent on Tuesday. The move aims to keep liquidity reasonable and ample in the banking system, 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.

Courier sector handles over 80b parcels in H1

China's courier sector handled more than 80 billion parcels in the first half, the State Post Bureau said on Monday. The figure was achieved 59 days earlier than in 2023, data from the bureau showed. In June, the average daily express delivery volume exceeded 500 million pieces, while the monthly average topped 13 billion parcels in the first six months.