(Yicai Global) Jan. 20 -- The People's Bank of China will conduct this year's first central bank bill swap today to boost the liquidity of the perpetual bond market. 

The CNY6 billion (USD875 million) CBS has a three-month term and a nominal interest rate of 2.35 percent, according to the central bank. The fixed fee rate for primary open market dealers will be 0.1 percent. 

The central bank kicked off CBS operations last February to encourage lenders to issue perpetual bonds. It conducted seven CBSs last year with a total value of CNY32 billion. 

Editor: Emmi Laine