BEIJING -- China Development Bank, one of the country's major policy banks, announced Thursday to have successfully listed onshore bonds on the Singapore Exchange.

A total of six CDB onshore financial bonds worth 42.5 billion yuan (about $6.48 billion) across different tenors of 1, 3, 5, 7, 10 and 20 years were listed on the exchange with fixed rates.

The listing of the onshore bonds on the Singapore Exchange is an important step to promote the opening up of China's bond market and the high-quality development in the country's financial sector, the CDB said.

The move will help to better attract investors from Singapore and other overseas institutions and further strengthen the connectivity between China and Singapore's financial markets, it added.

Founded in 1994, the CDB has issued over 20 trillion yuan worth of financial bonds by June 18, 2020.