PBOC injects cash into banking system

China's central bank on Friday continued to pump cash into the banking system via reverse repos to maintain liquidity. The People's Bank of China injected 100 billion yuan ($14.63 billion) into the market through seven-day reverse repos at an interest rate of 2.2 percent, according to a statement on the website of the central bank. The move was intended to maintain reasonable and ample liquidity in the banking system, the central bank said. A total of 100 billion yuan of reverse repos matured on Friday.

Egypt, Chinese firm discuss smart grid

Egypt and China's tech giant Huawei on Thursday discussed the gradual transformation of Egypt's electricity network to a smart grid, Egyptian Ministry of Electricity and Renewable Energy said. The meeting is part of Egypt's plans to develop its energy sector based on the latest technologies, it added.

Xinhua