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China’s central bank to conduct bill swap of 5 billion yuan

Randy Mancini 4 December 28, 2021
FILE PHOTO: People wearing face masks walk past the headquarters of PBOC
FILE PHOTO: People wearing face masks walk past the headquarters of Chinese central bank People's Bank of China (PBOC), April 4, 2020. REUTERS/Tingshu Wang

December 29, 2021

BEIJING (Reuters) – China’s central bank said on Wednesday that it would conduct a central bank bill swap on Dec. 29

The bill swaps, with a three-month tenor, are worth 5 billion yuan ($785.13 million), the People’s Bank of China (PBOC) said in a statement on its website.

The operation aims to improve the liquidity of perpetual bonds and support banks’ issuance of the bonds to replenish capital, it added.

($1 = 6.3684 Chinese yuan)

(Reporting by Gabriel Crossley; Editing by Himani Sarkar)