PBOC conducts $16.8b of reverse repos

The People's Bank of China, the central bank, on Wednesday conducted 110 billion yuan ($16.78 billion) of reverse repos to maintain stable liquidity in the banking system. The amount included 10 billion yuan of seven-day reverse repos at an interest rate of 2.2 percent, and 100 billion yuan of 14-day reverse repos at an interest rate of 2.35 percent, according to the People's Bank of China. Meanwhile, 10 billion yuan of reverse repos matured on the same day, resulting in a net injection of 100 billion yuan into the market.

Kedali plans battery parts plant in Hungary

Shenzhen Kedali Industry, a producer of lithium battery precision components and automotive components, is investing 14.1 billion Hungarian forints ($47.8 million) to set up a new plant in Hungary. The plant will manufacture components for lithium-ion batteries in Godollo, northern Hungary, and create 330 new jobs.

Xinhua