The National Development and Reform Commission (NDRC) has approved the second batch of corporate bonds by non-listed companies worth 99.5 bln yuan, the China Business News reported, citing a source close to the matter.

In March, the NDRC cleared the issue of 99.2 bln yuan worth of corporate bonds by 95 entities, including Sinopec Group, Shenhua Group and Chinalco, in the agency's first batch of approvals this year.

The source said that the new quotas in the second batch will be mainly allocated to the railway ministry and the State Grid Corp.

No further details were provided.

The NDRC, the top economic planning agency, approves bond sales issued by non-listed firms, while the China Securities Regulatory Commission handles corporate bonds issued by listed companies.