This undated photo shows a bank staff member counting 100-yuan banknotes at the Beijing Branch of the Bank of Communication in Beijing. (LI XIN / XINHUA)

BEIJING — China's central bank Thursday issued 30 billion yuan (about US$4.23 billion) of bills in Hong Kong.

Since November 2018, the bank has established a normal mechanism of issuing central bank bills in Hong Kong

Among the total, 20 billion yuan will mature in three months and 10 billion yuan will mature one year later, with the interest rate standing at 1.77 percent and 1.78 percent, respectively, according to the People's Bank of China (PBOC).

The issuance was well-received by investors in the offshore markets of many countries and regions in Europe, North America and Asia, with the bid amount exceeding 80 billion yuan, 2.7 times the circulation, said the PBOC.

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Since November 2018, the bank has established a normal mechanism of issuing central bank bills in Hong Kong. The move helps to enrich yuan-investment products with high credit ratings in Hong Kong, offer more yuan liquidity management tools, improve the yield curve of yuan bonds and advance the yuan's internationalization, it added. 

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