China's central bank on Monday started conducting an outright reverse repo operation of 1-trillion-yuan (about 146.96 billion U.S. dollars) to maintain ample liquidity in the banking system.
With a fixed quantity, the operation will be carried out through interest-rate bidding, with winning bids determined at various price levels. It will have a tenor of three months, or 91 days, with a maturity date of Oct. 5, according to the central bank.
Outright reverse repo operations -- a tool the central bank introduced in Oct 2024 to manage liquidity in the national banking system -- are conducted each month with a tenor of no more than one year.
These operations have enriched the country's monetary policy toolkit, complementing previous measures such as temporary repos, temporary reverse repos, and the purchase and sale of treasury bonds.
China's central bank conducts 1-trln-yuan outright reverse repo operation
Direct flights operated by Spring Airlines between Taiwan's Kaohsiung and Ningbo of Zhejiang Province resumed on Saturday, marking the latest restoration of cross-Strait air services. This route will operate twice a week, with flights scheduled every Tuesday and Saturday.
Spring Airlines said passengers traveling between the two cities previously had to make transfers, with one-way journeys usually taking more than five hours. With the resumption of direct flights, travel time has been shortened to around two hours, greatly improving travel efficiency.
Several mainland airlines have recently resumed direct cross-Strait routes. China Eastern Airlines resumed direct flights between Taichung and Chengdu on July 1, while Shandong Airlines is expected to resume direct flights between Taichung and Qingdao on July 23.
China Eastern said the first resumed flight from Taichung to Chengdu, capital city of Sichuan Province, had carried 163 passengers. Local tourism operators said that, thanks to the restoration of direct flights, bookings for tours from Taichung to Sichuan are already extended several months ahead.
On April 12, the Chinese mainland rolled out a package of 10 policies and measures, spanning inter-party communication, infrastructure, travel, trade and culture, aimed at boosting exchanges and cooperation with Taiwan.
Direct flights between Kaohsiung, Ningbo resume
