PBoC issues six-month bill in HK with a 3.4pc coupon

The Hong Kong Monetary Authority announced that the People’s Bank of China’s six-month bill was issued with a coupon rate of 3.4 percent, 85 basis points higher than the issuance in mid-December 2024, setting a new high for the term bill rate.
The PBoC issued a total of 60 billion yuan in this batch of bills, with applications reaching 129.73 billion yuan, nearly 1.2 times oversubscribed.
Market statistics indicate that this is the largest single issuance of offshore yuan bills by the PBoC in Hong Kong and the first time such an issuance has taken place in January.
(Melody Chen)