Central Bank Steps Up Measures to Defend Yuan
China’s central bank will sell bills in Hong Kong next week, its first debt issuance in the city and a signal policymakers are stepping up efforts to support the depreciating yuan in the offshore market.
The People’s Bank of China (PBOC) said (link in Chinese) on Wednesday it would raise 20 billion yuan ($2.87 billion) in Hong Kong on Nov. 7 through the sale of 10 billion yuan of three-month bills and 10 billion yuan of one-year bills.
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