National Development of Reform Committee (NDRC)'s spokesman Yan Pengcheng said that in 2017, the NDRC approved a total of 384 corporate bonds worth RMB 835.94 billion, an increase of 4% compares with 2016. As of the end of 2017, the stock of corporate bonds totalled RMB 4.9 trillion. In 2018, the NDRC will, in accordance with "holding the bottom line for not having systemic financial risk" put forward by the 19th CPC National Congress, lay a solid foundation for the prevention and mitigation of major risks. It will first need to conduct corporate bond risk investigation in advance, then continuously improve the principal and interest payment mechanism.