新茶是什么意思
The People's Bank of China will issue central bank bills worth 60 billion yuan ($8.18 billion) in Hong Kong on Jan 15, which experts said sends a policy signal of strengthening offshore renminbi liquidity management and stabilizing the yuan exchange rate.
The issuance is part of efforts to enrich Hong Kong's high-credit-rating renminbi financial products and improve the renminbi yield curve in the Hong Kong market, the PBOC said in a statement on Thursday.
The central bank bills will be fixed-rate bonds with a term of six months, with both principal and interest to be paid upon maturity. The interest commencement date is set for Jan 17, while the maturity date is scheduled for July 18. The issuance will adopt a Dutch auction method, in which bidding is based on interest rates.
Sources close to the central bank said earlier that the upcoming issuance would far exceed previous single issuances, meeting strong demand from overseas investors for high-grade renminbi bonds.
