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China's central bank issues 25 bln yuan of bills in Hong Kong

Xinhua News,BEIJING
2020-11-12 16:12

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BEIJING, Nov. 12 (Xinhua) -- China's central bank Thursday issued 25 billion yuan (about 3.77 billion U.S. dollars) worth of bills in Hong Kong.

Of the total bills, 10 billion yuan will mature in three months, and 15 billion yuan will mature a year later, with the interest rates standing at 2.85 percent and 2.9 percent respectively, according to the People's Bank of China (PBOC).

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 68.5 billion yuan, 2.7 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.

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

The move helps to enrich yuan-investment products with high credit ratings in Hong Kong, 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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