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 - The People's Bank of China issued 5 billion yuan ($747 million) worth of central bank bills in the Hong Kong Special Administrative Region on Tuesday.

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These central bank bills will mature in six months, with an interest rate of 2.3 percent, the PBOC said on its website.

The issuance was well-received by overseas investors, with total bidding reaching about 22.8 billion yuan, roughly 4.5 times the value issued, the central bank said.

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The strong bidding reflects the attractiveness of renminbi assets to overseas investors and the confidence global investors have in the Chinese economy, according to the PBOC.