June 29, 2020 / 12:24 PM / 17 days ago

China cbank conducts 5 bln yuan in bill swap

HONG KONG, June 29 (Reuters) - China’s central bank said on Monday that it conducted a central bank bill swap operation aiming to improve the liquidity of perpetual bonds and support banks’ issuance of the bonds to replenish capital.

The bill swaps, with three-month tenor, were worth 5 billion yuan ($707 million), the People’s Bank of China (PBOC) said in a statement on its website. ($1 = 7.0750 Chinese yuan renminbi) (Reporting by Meg Shen in Hong Kong and Colin Qian in Beijing; Editing by Toby Chopra)

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