China's central bank issued 30-bln-yuan bills in Hong Kong

BEIJING -- The People's Bank of China (PBOC) on Wednesday issued 30 billion yuan (about $4.36 billion) worth of central bank bills in Hong Kong.

The successful issuance gained popularity among investors of the offshore market, and met the market demands, the PBOC announced on its website.

The central bank sold 20 billion yuan one-month bills and 10 billion yuan of six-month bills, with the bid interest rate at 2.8 percent and 2.85 percent, respectively, according to the statement.

It was the first time for the PBOC to issue one-month and six-month bills in Hong Kong, and the total bid amount exceeded 85 billion yuan, the statement showed.

The issuance helped expand the range of both yuan-denominated financial products with high credit ratings in Hong Kong and yuan's liquidity management tools, the PBOC said.

The move will also help improve the yuan yield curve in the region and promote the yuan's internationalization, the PBOC added.

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

The same amount of bills was issued in February and May this year.