China's central bank plans to issue 60 billion yuan (about 8.3 billion U.S. dollars) worth of bills in Hong Kong on Jan. 15.

The People's Bank of China said that the bills will be issued with maturity of six months, or 182 days.

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.

The total value of bills this time will surpass any of the previous ones, the Xinhua-run Shanghai Securities News said.

Analysts said that issuing offshore yuan bills can tighten the yuan liquidity in the offshore market and stabilize the offshore exchange rate of the yuan.

The move has sent a clear policy signal of stabilizing the yuan exchange rate and market expectations, which will help reduce major fluctuations in the exchange rate, said Pang Ming, a researcher with the National Institution for Finance and Development.

By increasing the supply of offshore renminbi bonds, the central bank can also meet the demand of foreign investors for high-quality assets, said Zhou Maohua, a researcher at China Everbright Bank.

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