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Published: 11:10, August 16, 2022 | Updated: 09:27, August 17, 2022
PBOC to issue bills worth 25b yuan in Hong Kong
By Xinhua
Published:11:10, August 16, 2022 Updated:09:27, August 17, 2022 By Xinhua

Photo taken on June 22, 2016 shows a view of the Victoria Bay in Hong Kong, south China. (QIN QING / XINHUA)

BEIJING - China's central bank plans to issue 25 billion yuan (about US$3.69 billion) worth of bills in Hong Kong next Monday.

The move aims to enrich yuan-investment products with high credit ratings in Hong Kong and improve the yield curve of yuan in the region, the central bank said

The central bank bills will be issued in two batches. One batch is worth 10 billion yuan with a maturity of three months, or 91 days. The other batch is worth 15 billion yuan with a maturity of one year, the People's Bank of China said in a statement.

ALSO READ: PBOC cuts interest rates by 10bps

The move aims to enrich yuan-investment products with high credit ratings in Hong Kong and improve the yield curve of yuan in the region, the central bank said.

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

READ MORE: PBOC expected to focus on curbing inflation

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