PBOC Issues 25B Yuan in Renminbi Central Bank Bills in Hong Kong

The Chinese central bank issued 25 billion yuan (approx. USD$3.85 billion) in central bank bills via Hong Kong on Friday, 20 August. The People's Bank of China (PBOC) said that the issue included 10 billion yuan in 3-month central bank bills with a rate of 2.60%, and 15 billion yuan in 1-year bills with a rate of 2.75%. According to PBOC the issue was well-received by offshore investors, including banks, central banks, funds, insurers and institutional investors from multiple countries and regions, including North America, Europe and the Asia-Pacific. Total bidding reached 73 billion yuan, or more than 2.9 times…