The People’s Bank of China will issue central bank bills in Hong Kong next week, a tool that is typically used to stabilize the yuan’s exchange rate in the offshore market.

The People's Bank of China will issue central bank bills worth 60 billion yuan ($8.18 billion) in Hong Kong on Jan 15, which experts said sends a policy signal of strengthening offshore renminbi liquidity management and stabilizing the yuan exchange rate.

China expanded its support for the beleaguered yuan with a plan to issue a record amount of bills in the Hong Kong market to add demand for the currency overseas.

Assessing the final act of 2024, central banks around the world continued to play a leading role in the demand for gold. Click to read.

China’s central bank expanded its gold reserves for a second month in December, signaling renewed appetite after temporarily pausing purchases last year as prices soared.