China’s central bank issues 25 bln yuan of bills in Hong Kong

China’s central bank issued 25 billion yuan (about 3.74 billion U.S. dollars) worth of central bank bills in the Hong Kong Special Administrative Region on Monday.

Of the total, 10 billion yuan worth of central bank bills will mature in three months, and the other 15 billion yuan will mature in one year, with respective interest rates of 2.49 percent and 2.8 percent, according to the People’s Bank of China.

The issuance was well-received by overseas investors, with total bidding reaching about 58 billion yuan, roughly 2.3 times the value issued, the central bank said.

The bidding reflects the strong attractiveness of renminbi assets to overseas investors and the confidence global investors have in the Chinese economy, according to the central bank.