PBOC to issue 10b yuan bills in Hong Kong

BEIJING - China's central bank said Friday that it would issue 10 billion yuan ($1.43 billion) of bills in Hong Kong on March 26.

The bills, which will mature in six months, are the third batch issued by the People's Bank of China (PBOC), the central bank, this year, according to a statement on the website of the PBOC.

The move aims to enrich yuan-investment products with high credit ratings in Hong Kong and improve the yield curve of yuan bonds, it added.

Since November 2018, the central bank has established a normal mechanism of issuing central bank bills in Hong Kong. Last month, the first two batches totaling 30 billion yuan were issued in the city.