(Photo: VCG)

BEIJING, Jan. 30 (Xinhua) -- The People's Bank of China (PBOC) said Wednesday it will issue 20 billion yuan (about 3 billion US dollars) of bills in Hong Kong next month.

The central bank will issue 10 billion yuan in three-month bills and 10 billion yuan in one-year bills in Hong Kong on Feb. 13.

The move is aimed at "expanding the range of yuan-denominated financial products of high credit rating in Hong Kong and improving the yuan yield curve in the region," a PBOC statement said.

The bills will have fixed rates with their face value at 100 yuan, and their interest rates will be determined by tenders.

The PBOC first issued bills in Hong Kong in November 2018 when 20 billion yuan was raised through the issuance.