刚宣布！人民币，大消息！

Core Viewpoint - The People's Bank of China (PBOC) will issue 450 billion RMB in two phases of central bank bills in Hong Kong on November 24, 2025, to enhance the offshore RMB financial product offerings and improve the RMB yield curve in Hong Kong [2][3]. Group 1: Issuance Details - The eighth phase of the central bank bill has a term of 3 months (91 days), with a fixed interest rate and a total issuance of 300 billion RMB, starting from November 26, 2025, and maturing on February 25, 2026 [4]. - The ninth phase of the central bank bill has a term of 1 year, also with a fixed interest rate, with a total issuance of 150 billion RMB, starting from November 26, 2025, and maturing on November 26, 2026 [4]. Group 2: Market Impact - The issuance of these central bank bills is expected to regulate offshore RMB liquidity and is a crucial tool for the PBOC's exchange rate stabilization policy. The bills have been well-received by various types of investment institutions, with bidding multiples generally exceeding 2 times [5]. - The issuance of offshore central bank bills helps to enrich RMB investment options in the offshore market, enhancing the stability and safety of investors' asset allocations, especially amid ongoing global trade uncertainties [5]. - The PBOC has established a regular mechanism for issuing central bank bills in Hong Kong, which is significant for consolidating Hong Kong's status as an international financial center and promoting the internationalization of the RMB [5].