PBOC to issue $2.9bn bills in Hong Kong | 2019-06-20

PBOC to issue $2.9bn bills in Hong Kong

20 June, 2019 12:00 AM printer

BEIJING: The People's Bank of China (PBOC) said Wednesday that it will issue 30 billion yuan (2.9 billion U.S. dollars) worth of central bank bills in Hong Kong on June 26.

The issuance includes 20-billion-yuan one-month central bank bills and 10-billion-yuan six-month bills, according to a brief statement on the PBOC's website, reports Xinhua.

The move, which is aimed at improving the yuan yield curve in Hong Kong, follows three rounds of such issuances since November last year.

To help expand the range of yuan-denominated financial products with high credit ratings in the region, the PBOC first issued bills in Hong Kong in November 2018 when 20 billion yuan was raised. It issued the same amount of bills in February and May this year.