Beijing, Feb 15 (IANS) China’s central bank plans to issue 25 billion yuan (about 3.67 billion U.S. dollars) worth of bills in Hong Kong next Tuesday.
The central bank bills will be issued in two batches. One is worth 10 billion yuan with a maturity of three months, or 91 days. The other is worth 15 billion yuan with a maturity of one year, the People’s Bank of China said in a statement, Xinhua reported.
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.
–IANS
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