11月20日，中国人民银行官网发布中央银行票据发行公告[2025]第6号。 | 中国人民银行 | | THE PEOPLE'S BANK OF CHINA | | 货币政策司 | Monetary Policy Department | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 信息公开 | 新闻发布 | 法律法规 | 货币政策 | 宏观审慎 | 信贷政策 | 金融市场 | 金融稳定 | 调查统计 | 银行会计 | 支付体系 | | 人民币 国际交往 党建工作 | 全融科技 | | 经理国库 | | 人员招录 | 学术交流 | 征信管理 | 反洗钱 | | | | 政策解读 图文直播 报告下载 服务互动 | 政务公开 | | 公告信息 | | 央行研究 | 音操视频 | 市场动态 | 网上展厅 | | 报刊年签 | | 网送文告 办事大厅 下载中心 | | | 在线申报 | | 网上调查 | 意见征集 | 金融知识 | 关于我们 | | | | 2025年11月20日 早期四 我的位置:首页 ...

| | | 为丰富香港高信用等级人民币金融产品，完善香港人民币收益率曲线，根据中国人民银行与香港金融管理局签署的《关于使用债务工具中央结算系统发行 中国人民银行票据的合作备忘录》，2025年11月24日（周一）中国人民银行将通过香港金融管理局债务工具中央结算系统（CMU）债券投标平台，招标 发行2025年第八期和第九期中央银行票据。 【导读】中国人民银行11月24日将在香港招标发行450亿元两期中央银行票据 人民币重磅消息来了！ 11月20日，中国人民银行官网发布中央银行票据发行公告〔2025〕6号。公告显示，中国人民银行11月24日将在香港招标发行450亿元两期中央银行票据。 | | | | | 中国人民银行 | 货币政策司 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | THE PEOPLE'S BANK OF CHINA | Monetary Policy Department | | | | | | | | | 信息公开 | | 新闻发布 ...

【导读】中国人民银行11月24日将在香港招标发行450亿元两期中央银行票据 离岸人民币央票可以调节离岸人民币流动性，是央行稳汇率政策的重要工具之一。数据显 示，今年以来中国人民银行分别于1月、2月、6月、8月、9月在香港招标发行中央银行票 据，发行规模分别为600亿元、600亿元（2期）、300亿元、450亿元（2期）、600亿元。 从此前发行情况看，香港 离岸人民币 央票受到海内外多种类型投资机构的广泛欢迎，投标倍 数一般在2倍以上。 其中， 第八期中央银行票据期限3个月（91天），为固定利率附息债券，到期还本付息，发 行量为人民币300亿元，起息日为2025年11月26日，到期日为2026年2月25日，到期日遇 节假日顺延。 第九期中央银行票据期限1年，为固定利率附息债券，每半年付息一次，发行量为人民币150 亿元，起息日为2025年11月26日，到期日为2026年11月26日，到期日遇节假日顺延。 中国基金报记者 晨曦 人民币重磅消息来了！ 11月20日，中国人民银行官网发布中央银行票据发行公告〔2025〕6号。公告显示， 中国人 民银行11月24日将在香港招标发行450亿元两期中央银行票据。 | 中国 ...

Core Points - The People's Bank of China (PBOC) will issue the eighth and ninth phases of central bank bills on November 24, 2025, to enhance the availability of high-credit-quality RMB financial products in Hong Kong [1] - The eighth phase of the central bank bill has a term of 3 months (91 days) with a total issuance of RMB 30 billion, maturing on February 25, 2026 [1] - The ninth phase of the central bank bill has a term of 1 year with a total issuance of RMB 15 billion, maturing on November 26, 2026 [1] Summary by Category Issuance Details - The eighth phase of the central bank bill will have a fixed interest rate, with principal and interest paid at maturity [1] - The ninth phase will also have a fixed interest rate, with interest paid semi-annually [1] - Both bills will have a face value of RMB 100 and will be issued through a Dutch auction method, with the bidding subject being the interest rate [1] Purpose and Context - The issuance aims to improve the RMB yield curve in Hong Kong, as part of a collaboration between the PBOC and the Hong Kong Monetary Authority [1]

第八期中央银行票据期限3个月（91天），为固定利率附息债券，到期还本付息，发行量为人民币300亿 元，起息日为2025年11月26日，到期日为2026年2月25日，到期日遇节假日顺延。 11月20日，据央行网站，为丰富香港高信用等级人民币金融产品，完善香港人民币收益率曲线，根据中 国人民银行与香港金融管理局签署的《关于使用债务工具中央结算系统发行中国人民银行票据的合作备 忘录》，2025年11月24日（周一）中国人民银行将通过香港金融管理局债务工具中央结算系统 （CMU）债券投标平台，招标发行2025年第八期和第九期中央银行票据。 以上两期中央银行票据面值均为人民币100元，采用荷兰式招标方式发行，招标标的为利率。 第九期中央银行票据期限1年，为固定利率附息债券，每半年付息一次，发行量为人民币150亿元，起息 日为2025年11月26日，到期日为2026年11月26日，到期日遇节假日顺延。 ...

Group 1 - The People's Bank of China (PBOC) will announce the new Loan Prime Rate (LPR) on September 22, with the current 1-year LPR at 3.0% and the 5-year LPR at 3.5%, unchanged for three months [1] - A press conference on the achievements of the financial sector during the 14th Five-Year Plan will be held on the same day, featuring key financial leaders [3] - The PBOC plans to issue 600 billion yuan of central bank bills with a 6-month maturity to enhance the RMB yield curve in Hong Kong [4] Group 2 - Following the Federal Reserve's recent rate cut, there is speculation that global central banks, including the PBOC, may follow suit, potentially leading to a second wave of market rally in A-shares [5] - The PBOC has adjusted its 14-day reverse repo operations to a fixed quantity and multi-price bidding, which is seen as a move to enhance liquidity management [6] - The PBOC's liquidity management tools are being optimized to ensure stability in the financial system, especially ahead of major holidays [6] Group 3 - The external environment, including the Fed's rate cut and trade policies, may exert downward pressure on the US dollar, providing upward momentum for the RMB [7] - The PBOC is expected to flexibly manage liquidity through various instruments to stabilize the economy and support the RMB exchange rate [7] - A report from Galaxy Securities indicates that the priority for monetary policy in the fourth quarter will focus on economic growth and employment, with potential interest rate cuts anticipated [8]

Group 1 - The People's Bank of China conducted a 487 billion yuan 7-day reverse repurchase operation at an interest rate of 1.40%, maintaining the previous rate, resulting in a net injection of 195 billion yuan due to 292 billion yuan of reverse repos maturing on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) showed mixed movements, with the overnight Shibor rising by 3.10 basis points to 1.5140%, while the 14-day Shibor fell by 2.60 basis points to 1.5810% [1][2] - The overall interbank pledged repo market continued to see slight increases, with the weighted average rates for DR001 and R001 rising by 2.6 basis points and 3.0 basis points, respectively [4] Group 2 - The money market maintained a tight stance, with overnight pledged rate certificates trading at 1.65% or weighted +10 basis points, while 7-day trades were between 1.53% and 1.55% [8] - The issuance of interbank certificates of deposit reached 146.16 billion yuan on September 18, with 74 certificates issued [8][9] - The upcoming issuance of the 7th Central Bank Bill, with a fixed interest rate and a total issuance of 60 billion yuan, is scheduled for September 22, 2025 [11]

中国人民银行官网今天发布消息，为丰富香港高信用等级人民币金融产品，完善香港人民币收益率曲线，根据中国人民银行与香港金融管理局 签署的《关于使用债务工具中央结算系统发行中国人民银行票据的合作备忘录》， 2025年9月22日（周一）中国人民银行将通过香港金融管理 局债务工具中央结算系统（CMU）债券投标平台，招标发行2025年第七期中央银行票据。 | | | 中国人民银行 THE PEOPLE'S BANK OF CHINA | | | 货币政策司 Monetary Policy Department | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 信息公开 | 新闻发布 | 法律法规 | 货币政策 | 宏观审慎 | 信贷政策 | 金融市场 | 金融稳定 | 调查统计 | 银行会计 | 支付体系 | | | 金融科技 | 人民币 | 经理国库 | 国际交往 | 人员?家 | 学术交流 | 征信管理 | 反洗钱 | 覚建工作 | | | 服务互动 | 政务公开 | 政策解读 | 公告信息 | 图文直播 ...

Core Viewpoint - The People's Bank of China (PBOC) is set to issue the seventh phase of central bank bills in Hong Kong, amounting to 60 billion yuan, to enhance the availability of high-credit-rated RMB financial products and improve the RMB yield curve in Hong Kong [1] Group 1 - The issuance will take place on September 22, 2025, through the Hong Kong Monetary Authority's debt instruments central settlement system [1] - The bills will have a maturity of 6 months (182 days) with a fixed interest rate, and the principal and interest will be paid upon maturity [1] - The face value of the bills is set at 100 yuan, and they will be issued using a Dutch auction method, with the bidding focused on interest rates [1]

Core Points - The People's Bank of China (PBOC) will issue the seventh phase of central bank bills through the Hong Kong Monetary Authority's Central Moneymarkets Unit (CMU) on September 22, 2025 [1] - The bills will have a term of 6 months (182 days) with a total issuance amount of 60 billion RMB [1] - The face value of each bill is set at 100 RMB, and the issuance will adopt a Dutch auction method [1] Summary by Category - **Issuance Details** - The issuance date is September 22, 2025, with an interest start date of September 24, 2025, and a maturity date of March 25, 2026 [1] - The bills are fixed-rate interest-bearing bonds that will repay principal and interest at maturity [1] - **Market Impact** - This initiative aims to enrich the high-credit-quality RMB financial products in Hong Kong and improve the RMB yield curve [1]