World News

China central bank to conduct 6 billion yuan bill swaps on Tuesday

BEIJING (Reuters) – China’s central bank will conduct a bill swap operation to support the issuance and liquidity of perpetual bonds issued by banks to replenish capital, it said on Tuesday.

The bill swaps, with a 3-month tenor, will total 6 billion yuan ($855.63 million), the central bank said in a statement.

(Reporting by Lusha Zhang, Colin Qian and Ryan Woo; Editing by Muralikumar Anantharaman)

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