In this undated photo, a Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. (PHOTO / IC)
BEIJING — China's central bank plans to issue 25 billion yuan (about $3.67 billion) 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.
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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.