China Development Bank's bond issuance tops 20t yuan

The China Development Bank, a major Chinese policy bank that provides financing for national projects, has issued 20 trillion yuan ($2.8 trillion) worth of bonds on a market-oriented basis since its establishment.

This marked the latest milestone in its course of serving the nation's strategies and came in as a CDB bond worth 24 billion yuan was fully subscribed on Thursday.

As the second-biggest Chinese bond issuer, CDB has issued bonds worth over 20.0044 trillion yuan since its establishment, with its first market-oriented issuance back in 1998, the bank said in a statement on Thursday.

The balance of outstanding bonds is about 9.8 trillion yuan, accounting for 9.2 percent of the total outstanding amount in China's bond market, the statement said.

The CDB bonds have played an active role in directing social resources into key areas and weak links of China's economic and social development, as well as in opening up the country's bond market, as many of the CDB bonds were issued to foreign investors.

The development bank will continue its endeavors to drive financial innovations, deepen bond market opening-up and serve the real economy, the statement said.