BEIJING — China's central bank issued 5 billion yuan (about $747 million) worth of central bank bills in the Hong Kong Special Administrative Region on June 21.

These central bank bills will mature in six months, with an interest rate of 2.3 percent, the People's Bank of China (PBOC) said on its website.

The issuance was well-received by overseas investors, with total bidding reaching about 22.8 billion yuan, roughly 4.5 times the value issued, the central bank said.

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