Briefly

Reverse repos add 8b yuan to liquidity

The People's Bank of China, the country's central bank, on Friday conducted 8 billion yuan ($1.12 billion) of seven-day, 2 percent reverse repos to maintain reasonable and ample liquidity in the banking system. 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.

Sinopec discovers new shale reserves