China's bond issuance flat in May

BEIJING - The value of bonds issued in China last month totaled 4.8 trillion yuan ($676.9 billion), the same as the amount issued in April, data from the country's central bank showed.

Treasury bonds issued last month stood at 677.32 billion yuan, while local government bond issuance was 1.3 trillion yuan, according to the People's Bank of China (PBOC).

Financial bonds issued last month were valued at 849.05 billion yuan, and corporate debenture issuance topped 829.81 billion yuan.

The trust balance of the bond market totaled 106 trillion yuan at the end of May.

China has the world's second-largest bond market, which is growing rapidly and opening wider to overseas investors.

Last year, the country issued bonds worth 45.3 trillion yuan, up 3.1 percent from the previous year, PBOC data showed.