Core Viewpoint - The People's Bank of China (PBOC) is set to issue the 10th Central Bank Bill through the Hong Kong Monetary Authority's debt instrument central settlement system, enhancing the RMB financial product offerings in Hong Kong [1] Group 1: Issuance Details - The 10th Central Bank Bill will have a term of 6 months (182 days) and will be a fixed-rate bond, maturing on June 24, 2026 [1] - The total issuance amount is set at RMB 40 billion, with a face value of RMB 100 per bill [1] - The interest will be paid at maturity, and the issuance will follow a Dutch auction method [1] Group 2: Timeline and Mechanism - The auction for the 10th Central Bank Bill is scheduled for December 22, 2025, with the interest period starting on December 24, 2025 [1] - The maturity date will be adjusted if it falls on a public holiday [1]

Core Viewpoint - The People's Bank of China (PBOC) is set to issue the seventh phase of central bank bills in Hong Kong to enhance the RMB yield curve and provide high credit-rated RMB financial products [1] Group 1: Issuance Details - The PBOC will issue the seventh phase of central bank bills on September 22, 2025, through the Hong Kong Monetary Authority's debt instrument central settlement system [1] - The bills will have a term of 6 months (182 days) and will be fixed-rate interest-bearing bonds, with a total issuance amount of RMB 60 billion [1] - The effective date for the bills is September 24, 2025, and the maturity date is March 25, 2026, with the maturity date being adjusted for public holidays [1] Group 2: Auction Methodology - The face value of each central bank bill is RMB 100, and the issuance will adopt a Dutch auction method [1] - The auction will focus on interest rates as the bidding target [1]