BEIJING - The value of bonds issued in China in February reached 1.9 trillion yuan ($309.45 billion), new data from the People's Bank of China (PBOC) revealed on Wednesday.

Of the total, bonds worth 90 billion yuan were through the inter-bank bond market, the PBOC said.

The February figure was sharply above the 549.3 billion yuan in the same month of 2015, but less than the 2.1 trillion yuan issued in January this year.

The total balance of the bond market stood at 49.7 trillion yuan at the end of February.

The figures suggest it is becoming easier for Chinese firms to find affordable financing. Financing costs for companies through bond issuance have been significantly reduced since 2014, according to the PBOC.