# China sells 10 billion yuan of bills in Hong Kong to protect currency ahead of National Day, US trade war talks | South China Morning Post

> The PBOC auctioned 10 billion yuan of six-month bills in Hong Kong on September 26 to drain yuan liquidity and stabilize the currency. The move came before the October 1 National Day holiday and planned US-China trade talks.

- Date: 2019-09-26 · published 2019-09-26T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/57292-china-sells-10-billion-yuan-of-bills-in-hong-kong-to-protect-currency-ahead-of
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Defending the yuan signals Beijing's intent to limit currency weakness during trade talks, which can support Chinese import appetite for US farm goods if talks progress.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-12-08 | [China’s yuan strengthens as trade surplus hits US$72 billion in November amid robust export growth \| South China Morning Post](https://feedsoft.ai/events/11295-china-s-yuan-strengthens-as-trade-surplus-hits-us-72-billion-in-november-amid.md) | +0.0% | +0.3% |
| USDCNY | 2016-06-20 | [Chinese yuan strengthens ahead of Brexit vote \| South China Morning Post](https://feedsoft.ai/events/10880-chinese-yuan-strengthens-ahead-of-brexit-vote-south-china-morning-post.md) | +0.5% | +1.8% |
| USDCNY | 2016-11-28 | [China’s central bank talks up the yuan against US dollar ‘uncertainties’ \| South China Morning Post](https://feedsoft.ai/events/74062-china-s-central-bank-talks-up-the-yuan-against-us-dollar-uncertainties-south.md) | -0.5% | +0.4% |
| USDCNY | 2023-07-21 | [China’s yuan: will economic recovery lift currency out of the jungle after Fed effect fades? \| South China Morning Post](https://feedsoft.ai/events/35261-china-s-yuan-will-economic-recovery-lift-currency-out-of-the-jungle-after-fed.md) | -0.0% | +1.6% |
| USDCNY | 2021-02-09 | [Opinion \| Why a stronger yuan is still in China’s best interests \| South China Morning Post](https://feedsoft.ai/events/48873-opinion-why-a-stronger-yuan-is-still-in-china-s-best-interests-south-china.md) | +0.1% | +0.9% |

## Sources

- scmp.com: https://www.scmp.com/economy/global-economy/article/3030455/china-acts-hong-kong-protect-yuan-ahead-national-day-trade

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.