This Sept 24, 2019 photo shows the headquarters of China's central bank - the People's Bank of China in Beijing. (PHOTO / VCG)

BEIJING - The People's Bank of China (PBOC) Thursday issued 30 billion yuan (about US$4.32 billion) worth of bills in the Hong Kong Special Adminstrative Region (HKSAR).

Of the total bills, 20 billion yuan will mature in three months and 10 billion yuan will mature a year later, with the interest rate for both standing at 2.7 percent, according to the PBOC

Of the total bills, 20 billion yuan will mature in three months and 10 billion yuan will mature a year later, with the interest rate for both standing at 2.7 percent, according to the PBOC.

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The issuance was well-received by investors in the offshore markets of many countries and regions in Europe, North America and Asia, with the total bid amount reaching about 62.4 billion yuan, 2.1 times the amount in circulation, the PBOC said.

"This reflects the strong attractiveness of renminbi assets for overseas investors, as well as the confidence of global investors in the Chinese economy," the PBOC said.

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Since November 2018, the bank has established a standard mechanism for issuing central bank bills in the HKSAR.

The move helps to enrich yuan-investment products with high credit ratings in the HKSAR, offers more yuan liquidity management tools, improves the yield curve of yuan bonds and advances the yuan's internationalization, the PBOC said.

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