China's central bank on Monday cut benchmark lending rates by the steepest margin since August 2019 when the market-oriented loan prime rate regime was adopted. The nation is striving to repair the damage of the coronavirus outbreak,which caused GDP to contract in the first quarter. Photo:cnsphoto

The People's Bank of China (PBC), the country's central bank, Thursday issued 30 billion yuan ($4.32 billion) worth of central bank bills in Hong Kong.

The successful issuance shows yuan-denominated assets are highly attractive to foreign investors, and reflects the rising confidence of global investors in China's economy, the central bank said on its website. 

The central bank sold 10 billion yuan of one-month bills and 20 billion yuan of three-month bills, with the bid interest rate set at 2.7 percent, according to the central bank's statement.

The issuance has been widely welcomed by foreign investors, including institutional investors such as banks, central banks, funds, countries and regions as well as international financial organizations, the central bank said. 

The issuance has helped expand the range of both yuan-denominated financial products with high credit ratings in Hong Kong and the yuan's liquidity management tools, the PBC said.

The move will also help improve the yuan yield curve in the region and promote the yuan's internationalization, it added.

The PBC first issued bills in Hong Kong in November 2018 when 20 billion yuan was raised.