Announcement on Central Bank Bill Issuance No.5 [2025]

(Open Market Operations Office, September 18, 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 seventh batch of central bank bills in 2025 through the Central Moneymarkets Unit (CMU) bond tendering platform of the Hong Kong Monetary Authority (HKMA) on September 22, 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 seventh batch of bills are 6-month (182-day) fixed-rate coupon bonds with a total issuance of RMB60 billion. The principal and interest will be paid at maturity. The bills will begin to accrue interest on September 24, 2025, and will mature on March 25, 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.