March 6 (Bloomberg) -- Chinese companies have applied to sell 100 billion yuan ($14.6 billion) in bonds to help spur economic growth, following the sale of 130 billion yuan of such debt since Sept. 30, the nation’s top planning agency said.

More than 50 Chinese companies have applied to sell the bonds via a financial system designed to help raise funds to cover spending included in the nation’s stimulus package, Zhang Ping, head of the National Development and Reform Commission, said at a briefing in Beijing today. About 45 enterprises sold debt since the fourth quarter, he said.

“We will allow road and power grid construction projects, which will have proceeds in the future, to raise additional funds through the local-government financing platform,” Zhang said. He spoke as China holds an annual meeting of the National People’s Congress, the country’s top legislature.

China’s government is allowing a wider array of fund raising as part of the nation’s 4 trillion yuan stimulus plan. The economy, the world’s third biggest, is growing at the slowest pace in seven years after a collapse in exports because of the global recession.

Bank of China Ltd., the nation’s third-largest by value, plans to sell as much as 120 billion yuan of subordinated bonds by 2012, joining rivals in replenishing capital to fund loan growth.

To contact the reporters on this story: Belinda Cao in Beijing at lcao4@bloomberg.net; Tom Kohn in Hong Kong at tkohn@bloomberg.net

Last Updated: March 5, 2009 23:15 EST