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China debt crunch

China's gets bailout from local governments and Alibaba

Suppliers join in rescue of debt-strapped retailer of appliances and electronics

Shares of jumped by the maximum 10% on July 6, as trading resumed after a three-week halt. (Source photos by AP and Reuters) 

HONG KONG -- Troubled Chinese retailer has secured a $1.4 billion bailout, backed by local government funds, suppliers and Alibaba Group Holding, as Beijing seeks to calm jittery debt markets that could undermine economic momentum.

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