BUSINESS China's central bank to issue 5 bln yuan of bills in Hong Kong

BUSINESS

China's central bank to issue 5 bln yuan of bills in Hong Kong

Xinhua

13:54, March 16, 2023

BEIJING, March 16 (Xinhua) -- China's central bank plans to issue 5 billion yuan (about 723 million U.S. dollars) worth of bills in Hong Kong next Tuesday.

The central bank bills will be issued with a maturity of six months, or 182 days, the People's Bank of China said in a statement.

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.


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