HONG KONG -- The recent wave of corporate bond defaults in mainland China is pushing many domestic businesses to cancel their new issuances.
At least 57 companies have called off plans to issue a combined 44.2 billion yuan ($6.72 billion) of new fixed income securities in the domestic market as of Thursday, Nikkei Asia research shows, since Huachen Automotive Group defaulted on principal and interest of a 1 billion yuan bond on Oct. 23.
