BEIJING - The value of bonds issued in China totaled 2.4 trillion yuan ($357 billion) in February, the central bank said Monday.

Treasury bond issuance stood at 160 billion yuan, while local government bond issuance was worth 364.2 billion yuan, according to the People's Bank of China.

By the end of February, the size of outstanding bond market debt was 88 trillion yuan.

China stepped up efforts last year in preventing abnormal financial volatility and properly handling local government debt risks.

The debt balance of local governments stood at 18.39 trillion yuan at the end of 2018, well below the official ceiling of 21 trillion yuan, official data showed.