In this undated photo, a cashier counts renminbi notes at a bank in Nantong, Jiangsu province. (PHOTO / CHINA DAILY)
BEIJING — China's central bank plans to issue 25 billion yuan (about US$3.58 billion) worth of bills in the Hong Kong Special Administrative Region on May 23.
Of the total, central bank bills worth 10 billion yuan will mature in three months, and the other 15 billion yuan will mature in 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 gradually established a mechanism to enable the regular issuance of renminbi central bank bills in Hong Kong.