Individuals are now allowed to buy into local government debt via the counter business in the inter-bank bond market, according to a notice co-released by the People’s Bank of China, the Ministry of Finance, the China Banking and Insurance Regulatory Commission, Beijing Youth Daily reported.

Following book-entry treasury bonds, policy bank bonds and China Development Bank bonds, local government bonds have become another type of investment that can be traded by individuals.

This will give medium and small investors more investment options, and increase the property income of residents, the notice said.

However, the threshold for individual investors to buy local government debts remains relatively high.

Investors must have an annual income of no less than 500,000 yuan (US$72,055.45), and financial assets of not less than 3 million yuan, and have more than two years of securities investment experience.