In this undated file photo, pedestrians pass the headquarters of the People's Bank of China in Beijing. (PHOTO BY KUANG DA / FOR CHINA DAILY)

BEIJING - Chinese mainland's central bank issued 5 billion yuan (US$771.32 million) worth of bills in the Hong Kong Special Administrative Region (HKSAR) on Thursday.

The issuance was well-received by investors in the offshore markets, with the total bid amount reaching approximately 27.6 billion yuan, more than 5.5 times the amount in circulation, the PBOC said

The bills will mature in six months, with the interest rates standing at 2.54 percent, according to the People's Bank of China (PBOC).

ALSO READ: PBOC to issue bills in Hong Kong

The issuance was well-received by investors in the offshore markets, with the total bid amount reaching approximately 27.6 billion yuan, more than 5.5 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.

READ MORE: PBOC deputy governor: Chinese yuan to remain stable

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