Announcement on Central Bank Bill Issuance No.6 [2025]

(Open Market Operations Office, November 20, 2025)

In order to enrich the spectrum of RMB-denominated financial products with high credit ratings and improve the yield curve of RMB bonds in Hong Kong, the People’s Bank of China (PBOC) is scheduled to issue the eighth and ninth batches of central bank bills in 2025 through the Central Moneymarkets Unit (CMU) bond tendering platform of the Hong Kong Monetary Authority (HKMA) on November 24, 2025 (Monday), in accordance with the Memorandum of Cooperation on Using CMU for Issuance of PBOC Bills, jointly signed by the PBOC and the HKMA.

The eighth batch of bills are 3-month (91-day) fixed-rate coupon bonds with a total issuance of RMB30 billion. The principal and interest will be paid at maturity. The bills will begin to accrue interest on November 26, 2025 and will mature on February 25, 2026, unless postponed in the event of public holidays.

The ninth batch of bills are 1-year fixed-rate coupon bonds with a total issuance of RMB15 billion. The interest will be paid semi-annually. The bills will begin to accrue interest on November 26, 2025, and will mature on November 26, 2026, unless postponed in the event of public holidays.

The face value of each bill is RMB100. The issue will be placed by invitation for interest rate-bidding through Dutch auction.