BEIJING — China's central bank plans to issue 5 billion yuan (about $768.8 million) worth of bills in Hong Kong on March 18.

The maturity of the fixed-rate bill is set at six months, the People's Bank of China said in an online statement.

It will be the third issuance of central bank bills in Hong Kong this year.

The move aims to enrich yuan-investment products with high credit ratings in Hong Kong and improve the yield curve of yuan in the region, the central bank said.

Since November 2018, the bank has established a standard mechanism for issuing central bank bills in Hong Kong.