The central bank has decided to issue 60 billion offshore RMB central bank bills in Hong Kong.

The People's Bank of China's Open Market Operations Department issued an announcement on January 9th to enrich high credit-rated RMB financial products in Hong Kong, and improve the RMB yield curve in Hong Kong. According to the memorandum of cooperation signed between the People's Bank of China and the Hong Kong Monetary Authority on the use of the Debt Instrument Central Clearing System to issue People's Bank of China bills, on January 15, 2025 (Wednesday), the People's Bank of China will issue the first batch of central bank bills for 2025 through the Hong Kong Monetary Authority's Debt Instrument Central Clearing System (CMU) bond bidding platform. The first batch of central bank bills have a term of 6 months (182 days), are fixed-rate interest-bearing bonds, and will be redeemed with interest at maturity. The issuance amount is RMB 60 billion, with an interest start date of January 17, 2025, and a maturity date of July 18, 2025, which will be extended if it falls on a holiday. The face value of the first batch of central bank bills is RMB 100, and they will be issued through a Dutch auction method, with the bidding target being the interest rate. This article is selected from the official WeChat account of the People's Bank of China. Editorial by GMTEight: Xu Wenqiang.