Chinese firms delay or cancel US$10bil bond issuance in April

SHANGHAI: Chinese firms have delayed or cancelled at least 68.8 billion yuan (US$10.63bil) of bond and other fixed income issuance so far in April, bond market data sources showed.

Around 70 firms have delayed or cancelled issues, many in excess capacity industries including cement and mining, according to data compiled from China’s two main clearinghouses for the interbank market and the interbank market operator.