Results of People's Bank of China RMB Bills Tender Released by HKMA
Zach Anderson May 22, 2024 05:24
Hong Kong Monetary Authority (HKMA) announces the results of the RMB Bills tender held on 22 May 2024.
HKMA Announces Tender Results of People's Bank of China RMB Bills
The Hong Kong Monetary Authority (HKMA) has announced the results of the tenders for the RMB Bills issued by the People's Bank of China (PBoC) held on 22 May 2024, according to a press release on HKMA's official website.
The tender, which made three-month RMB Bills available, is part of an ongoing initiative by the PBoC and HKMA to foster the development of the RMB offshore market.
Details regarding the issuer and specifics of the tender were not disclosed in the press release. The tender results are part of HKMA's commitment to transparency and maintaining a robust financial system in Hong Kong.
HKMA, as the central banking institution of Hong Kong, frequently collaborates with its mainland counterpart, the PBoC, to manage currency stability and develop financial infrastructure.
The tender of RMB Bills is one of the tools used by the two institutions to manage liquidity in the offshore RMB market in Hong Kong, providing more investment channels for RMB funds.
The HKMA continues to work closely with the PBoC to promote the healthy development and smooth functioning of the RMB offshore market, contributing to the internationalisation of RMB.
For more details regarding the tender results, interested parties are advised to visit the HKMA website.
Image source: Shutterstock