The Chinese bond market is the third largest in the world, and it continues to grow rapidly. In May 2018, China's issuers issued bonds totaling 3 trillion 800 billion yuan, which is 5.5% more than in April, the People's Bank of China said. PRC has placed government bonds in the amount of 315 billion 100 million yuan. The municipal authorities sold new debt securities worth 355 billion 300 million yuan. Financial institutions issued bonds for 513 billion 800 million. The volume of unsecured corporate bonds in May amounted to 382 billion 900 million. The total volume of bond issue in 2017 amounted to 40 trillion 800 billion yuan, increased by 12.9% over the year.