Anti-subsidy charges on Australian wines

China will temporarily impose anti-subsidy fees on some Australian wine imports from Dec 11, the Ministry of Commerce said on Thursday. Importers bringing in wines being investigated for Australian subsidy benefits will need to pay deposits to Customs authorities, according to the statement. In August China launched an investigation into Australian wine subsidy programs, following a request from the China Wine Industry Association. Last month, it began imposing anti-dumping tariffs on wine imports from Australia after a separate anti-dumping probe.

PBOC conducts $1.5b of reverse repos

The People's Bank of China, the central bank, on Thursday conducted 10 billion yuan ($1.53 billion) of reverse repos to maintain reasonably ample liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.2 percent, according to a PBOC statement. Meanwhile, 10 billion yuan of reverse repos matured on the same day, resulting in zero injection into the market. 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.

Agencies