Chinese central bank announced that it will issue bills in Hong Kong to improve the yield curve and enrich yuan-denominated financial products in the offshore market. The move is also viewed as a way for the central bank to manage yuan's liquidity in the offshore market, which means, it will be able to raise borrowing cost for short-sellers of the yuan directly when facing strong depreciation pressure.
The People's Bank of China (PBOC) has signed a memorandum of cooperation with Hong Kong Monetary Authority (HKMA) for the tendering and issuance of PBOC bills through HKMA's . . .
To continue reading, please subscribe.
We highly value independence. Yuan Talks is solely funded by subscriptions from thousands of intelligent readers like you. Don't miss out!
What you'll get:
- Original and in-depth reporting on China's economy and financial markets with details, data and perspectives you don't read elsewhere!
- Daily Brief newsletter delivered before market open every weekday wrapping up the most important China-related information.
- Weekly Market Wrap-up on Chinese equities, bonds, the yuan and commodities!
- Interviews with China experts. We find you insights you should never miss!
Not ready for the full service? Subscribe to our Free Weekly Newsletter first.
Already have an account? Sign In