Nearly 40 billion yuan bond issues canceled, postponed after high-profile defaults roiled market

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Chinese companies are racing to cancel or postpone bond issue after a string of high-profile bond defaults by state-owned companies knocked investors' confidence and roiled the country's corporate bond market.

A total of 52 bonds worth a combined 39.88 billion yuan were cancelled or postponed between November 10 and 19 after a spate of corporate debt defaults, shows data from Wind Information. That compares to cancellations of only 16 bonds involving 7.4 billion yuan in the first nine days of November.

In particular, bond cancellation surged on November 13, when . . .

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