The bill swaps, with a three-month tenor, are worth 5 billion yuan ($785.13 million), the People’s Bank of China (PBOC) said in a statement on its website.
The operation aims to improve the liquidity of perpetual bonds and support banks’ issuance of the bonds to replenish capital, it added.
($1 = 6.3684 Chinese yuan)
Source: Economy - investing.com
