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Wednesday, May 15, 2019, 16:20
PBOC issues 20 billion yuan bills in HKSAR
By Xinhua
Wednesday, May 15, 2019, 16:20 By Xinhua

An employee counts Chinese one-hundred yuan banknotes at the Bank of China Hong Kong headquarters in Hong Kong. (PHOTO / VCG)

BEIJING - The People's Bank of China (PBOC) said Wednesday it has issued 20 billion yuan (about US$2.91 billion) of bills in Hong Kong.

It was the third time that the PBOC has issued bills in Hong Kong in the past six months

The central bank has issued 10 billion yuan in three-month bills at an interest rate of 3 percent and 10 billion yuan in one-year bills at an interest rate of 3.1 percent.

It was the third time that the PBOC has issued bills in Hong Kong in the past six months, a move that helped expand the range of yuan-denominated financial products of high credit rating in the region, the central bank said.

READ MORE: PBOC unveils new targeted monetary tool

The issuance of central bank bills in Hong Kong will also improve the yuan yield curve in the region and push yuan internationalization, it said. 

ALSO READ: PBOC: China to maintain liquidity at reasonable, stable level

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