BEIJING, July 7 (Xinhua) - China's top economic planner has approved seven state-owned enterprises to issue bonds, with a total value of 52.1 billion yuan (about 7.58 billion US dollars).

File photo: VCG

Zhongyuan Yuzi Investment Holding Group is allowed to issue 15 billion yuan of bonds, while Shaanxi Xixian New Area Development Group Co., Ltd. will float 12 billion yuan of bonds, according to statements from the National Development and Reform Commission (NDRC).

Other companies include Chengdu Xingcheng Investment Group Co., Ltd. and State Development & Investment Group Co., Ltd.

Bond issuance by state firms is usually used to finance infrastructure construction and government projects.

Last month, the NDRC approved more than 30 companies to raise over 140 billion yuan through bond sales.