China will step up efforts to facilitate bond issuance for private companies, the country's top economic planner said Thursday.

To ease private firms' financing difficulties, the country will make it easier for them to raise funds via bond issuance, especially enterprises with good credit and stable performance, and those that support industrial upgrading and regional development, Meng Wei, spokesperson for the National Development and Reform Commission told a press conference.

Meng said the country will also encourage eligible firms to issue bonds for the establishment or capital boost of venture capital funds to support startups.

The country vowed to provide necessary financial support for private companies that defaulted on corporate bonds because of tight cash flows but were still industry leaders, large employers or in emerging industries, according to Meng.