The Chinese central bank issued 10 billion yuan in in 6-month central bank bills on 26 March via Hong Kong at a rate of 2.19%.
PBOC said that “this renminbi central bank bill issuance in Hong Kong was still broadly welcomed by foreign investors, against a background of expanding volatility on global financial markets of late.”
“Institutional investors including banks, central banks and funds from multiple countries and regions including the United States, Europe and Asia rushed to participate in the subscription, with over 35 billion yuan in bids for a 3.5 fold oversubscription.
“This clearly indicates that renminbi assets are strongly appealing to overseas investors, and embodies the confidence of global investors in the Chinese economy.”
The balance of Hong Kong renminbi central bank bills remains 80 trillion yuan, given that the issuance coincided with the maturation of prior issues.
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