A total of 15 bonds, worth nearly.......>

CHINA PRESS: A total of 15 bonds, worth nearly CNY15 billion, issued by Chinese

companies have defaulted since November, the 21st Century Business Herald

reported Wednesday. The increasing frequency of bond defaults has led to

widespread delays or cancellations of issuance, affecting 760 bonds worth more

than CNY700 billion. One of the most recent cases was that of China City

Construction Corporation Limited, which announced Monday that its tight

financial situation had led it to default on CNY1 billion in bonds. China's

supply-side structural overhauls and its environmental protection campaign,

which can weigh on industrial production, has eaten into companies' profit and

made it difficult for them to manage their bond payments, analysts said. Another

reason given by the analysts is that bond market adjustments and new refinancing

rules in the stock market have made it difficult for companies to roll over

their debt. (21st Century Business Herald)