BEIJING — China's central bank plans to issue 25 billion yuan (about $3.69 billion) worth of bills in Hong Kong on Aug 22.

The central bank bills will be issued in two batches. One batch is worth 10 billion yuan with a maturity of three months, or 91 days. The other batch is worth 15 billion yuan with a maturity of one year, the People's Bank of China said in a statement.

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.