China conducts central bank bills swap

BEIJING, Sept. 29 (Xinhua) -- The People's Bank of China (PBOC) conducted a central bank bills swap (CBS) operation on Thursday to improve the liquidity of perpetual bonds.

The CBS, valued at 5 billion yuan (about 703.2 million U.S. dollars), is open to primary dealers for bidding at a fixed rate of 0.1 percent, the PBOC said in a statement.

The swap will be due on Dec. 29, according to the statement.