The central bank has announced plans to issue central bank bills through an auction on February 25, 2026. The move aims to diversify high-credit-quality RMB financial products in Hong Kong and improve the local RMB yield curve. The issuance will be conducted under a cooperation memorandum signed between the People's Bank of China and the Hong Kong Monetary Authority.

The first series of central bank bills will have a maturity of three months (91 days). These are fixed-rate interest-bearing bonds, with principal and interest repaid at maturity. The total issuance size is set at 30 billion yuan. The value date is February 27, 2026, and the maturity date is May 29, 2026. Should the maturity date fall on a holiday, it will be postponed to the next business day.

The second series will have a one-year maturity. These are also fixed-rate interest-bearing bonds, paying interest semi-annually. The issuance volume is 20 billion yuan. The value date is February 27, 2026, and the maturity date is February 27, 2027. If the maturity date coincides with a holiday, it will be deferred accordingly.

Both series of central bank bills have a face value of 100 yuan per unit and will be issued using the Dutch auction method, with the bidding target being the interest rate.