Yuan-denominated bonds issued on China's inter-bank bond market surged to 4.78 trillion yuan (597.6 billion U.S. dollars) in the first 10 months, up 49.2 percent from the same period last year, according to central bank figures.

A report released Wednesday by the People's Bank of China showed the T-bonds issued by the Ministry of Finance rose by 55 percent to 562.7 billion yuan and notes issued by the central bank increased by 52 percent to 3.32 trillion yuan.

China's inter-bank bond market has developed quickly with participants from commercial banks and non-bank financial institutions and commercial firms.

The products and services include inter-bank loans, government borrowing, and commercial bank, and financial and company bonds.

The report said financial bonds issued by commercial banks dropped by 70.5 percent to 28.3 billion yuan, while corporate short-term financing bonds soared 163.2 percent to 228.69 billion yuan.