(Yicai Global) Nov. 1 -- A total of 149 bonds issued by 58 Chinese companies defaulted in the first 10 months of this year, comprising liabilities worth a total of CNY81.7 billion (USD11.6 billion).

That resulted in the postponement or failed issuance of 446 bonds during the year, involving 346 entities and CNY291.2 billion, 21st Century Business Herald reported today.

The mining industry accounted for the biggest portion -- CNY48.8 billion -- in 43 bonds from six companies, though the number wasn't the largest.

The prosperous real estate sector also suffered defaults, with four developers failing to repay debt. Industry insiders said that though the sector is still a relatively high-quality asset, it needs to be alert to the spread of risks. More than 400 property firms have folded so far this year.

There are two types of default risks, the report said. One lies in some non-defaulted bonds of defaulted issuers, totaling CNY40 billion of bond balance from 58 bonds. Another is interest default, with the issuers still paying the principal. A total of 42 bonds with a balance of CNY40 billion belong to this category.

If no new issuers default in the next two years, bonds with nearly CNY70 billion of principal are still expected to be at risk, the report said. In addition, there are 10 extended bonds which may default when the extension ends.

A total of 52 Chinese corporate bonds defaulted last year, with a default amount of CNY89.9 billion, per the report.