BEIJING — The People's Bank of China (PBOC) issued 25 billion yuan (about $3.94 billion) worth of central bank bills in the Hong Kong Special Administrative Region (SAR) on Feb 21.

Of the total, 10 billion yuan worth of central bank bills will mature in three months, and the other 15 billion yuan will mature in one year, with respective interest rates of 2.5 percent and 2.7 percent, according to the PBOC.

The issuance was well-received by overseas investors, with total bidding reaching approximately 60 billion yuan, roughly 2.4 times the value issued, the PBOC said.

The bidding reflects the strong attractiveness of renminbi assets to overseas investors and the confidence global investors have in the Chinese economy, the PBOC said.