China's central bank to issue 10b yuan of bills in Hong Kong

BEIJING -- China's central bank plans to issue 10 billion yuan (about $1.53 billion) worth of bills in Hong Kong on Wednesday.

Dutch bidding will be adopted as the tender mode for the fixed-rate bill, which will come with a par value of 100 yuan and repay principal and interest upon maturity of six months, the People's Bank of China said in an online statement.

It will be the 12th issuance of central bank bills in Hong Kong this year.

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.