China chip giant Tsinghua Unigroup says creditor seeks bankruptcy

Move comes after state-backed group misses string of bond payment deadlines

CHENG TING-FANG, LAULY LI, NARAYANAN SOMASUNDARAM and KENJI KAWASE, Nikkei staff writers

July 10, 2021 01:49 JST

TAIPEI/HONG KONG -- Embattled Chinese tech flagship Tsinghua Unigroup confirmed Friday that one of its creditors has asked a court to begin bankruptcy proceedings for the group, in the latest setback to China's goal of building a self-reliant semiconductor industry.