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

Summary:
[unable to retrieve full-text content]Chinese electronics manufacturer Tunghsu Optoelectronic Technology is seeking a lifeline from its local government after missing two bond repayments, making it the latest victim of the country’s debt-strapped private economy.Its owner, Tunghsu Group, was immediately downgraded by credit rating agency S&P Global.The controlling parent of China’s largest producer of photoelectric display materials plans to hand over a majority stake of 51.5 per cent to the state-owned asset watchdog of…

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[unable to retrieve full-text content]
Chinese electronics manufacturer Tunghsu Optoelectronic Technology is seeking a lifeline from its local government after missing two bond repayments, making it the latest victim of the country’s debt-strapped private economy.Its owner, Tunghsu Group, was immediately downgraded by credit rating agency S&P Global.The controlling parent of China’s largest producer of photoelectric display materials plans to hand over a majority stake of 51.5 per cent to the state-owned asset watchdog of…

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