Reported about 19 hours ago
China is taking measures to support its struggling yuan by planning to issue a record 60 billion yuan ($8.2 billion) in six-month bills in Hong Kong, which is aimed at absorbing excess liquidity in offshore markets. This move, set to take place on January 15, follows a period of yuan depreciation linked to a slow Chinese economy and potential US tariff increases. Analysts believe this tactic, previously used by the People's Bank of China, is intended to stabilize the yuan and signal its commitment to maintaining currency strength despite ongoing economic pressures.
Source: YAHOO