Issuers delay, cancel bonds

Three Chinese bond issuers have delayed or canceled bonds in the past week, as concerns grow that the US Federal Reserve's monetary easing will stoke already accelerating inflation in China.

Sichuan Expressway Construction & Development Co, which builds roads in the mountainous southwestern province, will delay the sale of 3 billion yuan ($475 million) of notes that had been planned to take place the end of this month, according to a company statement on Tuesday. That follows cancellation of a debt sale by China Development Bank, the country's biggest lender to government projects, and the postponement of an offering by Xinao China Gas Investment Co last week.

Inflation in China accelerated for the first time in five months in August, with prices advancing 2 percent from a year earlier compared with 1.8 percent in July.

China Daily-Agencies