The People’s Bank of China will issue central bank bills in Hong Kong next week, a tool that is typically used to stabilize the yuan’s exchange rate in the offshore market.

The People's Bank of China will issue central bank bills worth 60 billion yuan ($8.18 billion) in Hong Kong on Jan 15, which experts said sends a policy signal of strengthening offshore renminbi liquidity management and stabilizing the yuan exchange rate.

China expanded its support for the beleaguered yuan with a plan to issue a record amount of bills in the Hong Kong market to add demand for the currency overseas.

China Development Bank has released a $254.76 million loan to Nigeria for a railway project linking the two northern states of Kano and Kaduna, the bank said, ahead of a visit to the West African country by China's top diplomat this week.

The China Development Bank has announced a $254.76 million loan to Nigeria for the construction of a railway project. China’s involvement in Nigeria’s railway modernization program is part of its broader Belt and Road Initiative.

The China Development Bank (CDB) has approved the first tranche of a $255 million loan for the Kaduna-Kano railway project. The announcement was made on Tuesday, January 7, as part of China's commitment to enhancing Nigeria's transport network under the Belt and Road Initiative.