China's bond issuance increases in August

The value of bonds issued in China last month totaled 4.4 trillion yuan ($622.3 billion), up from 3.5 trillion yuan in July, official data showed.

Treasury bond issuance stood at 424.4 billion yuan, while local government bond issuance was 569.5 billion yuan, according to the People's Bank of China (PBOC).

Financial bonds issued last month were valued at 605.5 billion yuan, and corporate debenture issuance was 896.6 billion yuan.

By the end of August, total bonds outstanding reached 95.1 trillion yuan.

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

Last year, China issued bonds worth 40.8 trillion yuan, up 12.9 percent from the previous year, according to PBOC data.