HONG KONG -- Listed bonds issued by China's Tsinghua Unigroup plunged on Tuesday after a local credit agency raised alarm on the state-backed tech conglomerate's mounting debts to finance investments meant to counter U.S. pressure.
China tech
Chinese chipmaker Tsinghua Unigroup's bonds crash after debt warning
Beijing tech flagship strained by credit-fueled capacity buildup
Tsinghua Unigroup plays a leading role in building up China's semiconductor industry in order to reduce reliance on foreign chipmakers. (Photo by Cheng Ting-fang)
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