Results of People’s Bank of China RMB Bills Tender Released by HKMA

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

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