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China debt crunch

Tsinghua Unigroup's bond default: Five things to know

Chinese chipmaker's financial problems send shock waves in corporate debt market

Tsinghua Unigroup has been aiming to establish itself as a leader in China's memory-chip industry since 2015 but has been facing investor skepticism over its finances.   © AP
NARAYANAN SOMASUNDARAM and KENJI KAWASE, Nikkei staff writers | China

HONG KONG -- The liquidity crisis at Chinese chipmaker Tsinghua Unigroup, a crown jewel of President Xi Jinping's grand "Made in China 2025" plan, deepened this week after the company said it would default on more bonds.

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