The Beijing Stock Exchange has seen a company issuing bonds for the first time, marking a significant step for the Beijing Stock Exchange to develop a credit bond market.

The Beijing State-owned Assets Management Co Ltd has issued a three-year bond that raised 1 billion yuan ($139.78 million) at a coupon rate of 2.55 percent on Wednesday, the BSE said.

The bond was subscribed by State-owned banks, joint-stock banks, securities firms, insurers and fund management companies.