This is the largest ever single such issuance, according to data provider Wind Information. In December, the PBOC issued bills totaling 20 billion yuan.

China expanded its support for the beleaguered yuan with a plan to issue a record amount of bills in the Hong Kong market to mop up excess liquidity. The People’s Bank of China will auction 60 ...

State-owned news outlet Yicai reported earlier this week, citing sources close to the central bank, that the PBOC will ramp up offshore yuan bill sales in Hong Kong in January. As of 0229 GMT ...

Reduced offshore yuan liquidity provision from state banks and a report of additional bill issuance this month have worsened the demand-supply gap, said the traders who asked not to be named.

The issuance is set to be the largest on record since the central bank started bill auctions in Hong Kong regularly in 2018, according to Bloomberg-compiled data. The yuan’s tumble in recent ...