BEIJING - China's bond market grew 23.8 percent in the first half of the year, the People's Bank of China (PBoC), the central bank, said in a report on Monday.

A total of 5.4 trillion yuan (about $878 billion) worth of bonds were floated from January to June, said PBoC.

In June, 983.6 billion yuan of new bonds were issued, surging by 84.1 percent over the same period last year, according to the central bank's monthly financial report.

Governments and companies can issue both treasury and corporate bonds for financing. Buying bonds is a relatively safe tool for investors to manage their money.

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