(Xinhua/Lo Ping Fai)

China’s central bank issues 5 bln yuan of bills in Hong Kong

China’s central bank issued 5 billion yuan (about 771.32 million U.S. dollars) worth of bills in Hong Kong on Thursday.

The bills will mature in six months, with the interest rates standing at 2.54 percent, according to the People’s Bank of China (PBOC).

The issuance was well-received by investors in the offshore markets, with the total bid amount reaching approximately 27.6 billion yuan, more than 5.5 times the amount in circulation, the PBOC said.

This reflects the strong attractiveness of renminbi assets for overseas investors, as well as the confidence of global investors in the Chinese economy, the PBOC said.

Since November 2018, the bank has established a standard mechanism for issuing central bank bills in Hong Kong.