News Express

The People's Bank of China conducted a central bank bills swap operation on August 27 aimed at improving the liquidity of bank-issued perpetual bonds and supporting banks in replenishing capital. The swap operation, which was also designed to better serve the real economy, involved 5 billion yuan of three-months bills carrying interest of 0.10%. The debt swapped with the central bank included perpetual bonds issued not only by large state-owned commercial banks and jointstock commercial banks, but also by urban commercial banks.