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Chinese missile speedboats conduct live-fire drills

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Chinese missile speedboats conduct live-fire drills

2024-05-25 20:46 Last Updated At:05-26 10:48

A missile speedboat fleet of China's Southern Theater Command recently conducted live-fire drills in unfamiliar waters, aiming to enhance its capacity for carrying out diverse military tasks.

The training subjects included naval gun firing, air and missile defense, as well as smoke releasing, against imaginary enemies.

As soon as the missile speedboat formation arrived at the exercise sea area, the radar reported "unknown air targets" approaching to the fleet at high speed. The warships immediately sounded the battle alarms and quickly formed an air defense formation to launch artillery counterattacks.

After the "enemy" situation in the air was lifted, the fleet received the notification of the presence of "enemy" armed reconnaissance ships in the sailing waters. Then all the missile boats quickly adjusted the course and speed, and maneuvered to the mission area, where they carried out a comprehensive fire strike against the targets and successfully "sunk" the "enemy ships."

During the three-day maritime exercise, the missile speedboat formation sounded sirens many times, and quickly switched between and randomly combined the training subjects, which has further strengthened the boat commanders' ability to use weapons and the soldiers' emergency response and effectively improved the capacity of single boat and the whole fleet to fulfill various military missions.

"For this exercise, we closely followed the requirements of the missions and tasks and carried out real-combat drills in 'back-to-back' confrontation. In the exercise, we adopted the mode of giving information about the 'enemy' at the last moment, so as to further test and develop the capacity of weapon use and emergency response of the servicemen," said Li Shuai, a soldier of the missile speedboat brigade.

Chinese missile speedboats conduct live-fire drills

Chinese missile speedboats conduct live-fire drills

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Chinese central bank adds liquidity via reverse repos, MLF

2024-06-17 16:53 Last Updated At:17:07

The People's Bank of China injected liquidity into the banking system through reverse repos and medium-term lending facility (MLF) on Monday.

The central bank conducted 4 billion yuan (about 562.2 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent.

A total of 182 billion yuan was also injected into the market via the MLF, which will mature in one year at an interest rate of 2.5 percent.

The move is aimed at keeping liquidity reasonable and ample in the banking system to fully satisfy the needs of financial institutions, the central bank said in a statement.

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.

The MLF tool was introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank using securities as collateral.

Chinese central bank adds liquidity via reverse repos, MLF

Chinese central bank adds liquidity via reverse repos, MLF

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