Shanxi issued government bonds worth 24.43 billion yuan ($3.56 billion) in 2016 to support its development and improve people's lives.

The money was used for social services and infrastructure, such as 4.87 billion yuan used for building traffic facilities, 900 million yuan for building homes for low-income families, and 890 million yuan on medical insurance.

A series of public projects including reconstruction of shantytowns was supported with bonds, promoting the living standards of local residents.