BEIJING - The total value of renminbi-denominated bonds issued in China last year hit 11 trillion yuan ($1.8 trillion), [Hong Kong company registration]up 22.3 percent, the central bank said on Tuesday.

Of the bonds issued in 2014, 10.7 trillion yuan were issued through the inter-bank bond market, according to a report released by the People's Bank of China, including 1.7 trillion yuan of treasury bonds and 2.3 trillion yuan through the three wholly state-owned banks.

Corporate debentures increased by 38.9 percent to 5.2 trillion yuan in 2014.

"Since 2014, [Hong Kong Company Formation]the financing costs for companies through bond issuance has significantly reduced," said the central bank report. The weighted average of fixed-term yield rate for corporate bonds stood at 5.52 percent at the end of 2014, down 148 basis points from a year before.