An increase in defaults reflects the highly-stretched liquidity conditions faced by China’s private firms. Photo: AFP

Major Chinese electronics maker Tunghsu seeks government lifeline after shock bond default as slowing economy leaves private firms cash-strapped

  • Tunghsu Optoelectronic Technology shocked the market by missing bond payments worth US$285 million even though it had recently reported huge cash holdings
  • Private companies have made up about 90 per cent of Chinese corporate defaulters this year amid slowing economy, crackdown on shadow banking
Topic |   Banking & Finance

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An increase in defaults reflects the highly-stretched liquidity conditions faced by China’s private firms. Photo: AFP
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