THE WALL STREET JOURNAL
WORLD - ASIA - CHINA
China’s Debt Crunch Hits Large Manufacturer
Equipment maker with billions in debt suspends trading and seeks government help
By Chao Deng
May 4, 2018 10:04 a.m. ET
BEIJING—A Chinese equipment maker in a wealthy province has turned to the local government for help to ease its multibillion-dollar debt burden, the latest example of private businesses feeling the squeeze of Beijing’s campaign to control debt.
DunAn Group, which employs around 29,000 people in the eastern province of Zhejiang, hasn’t been able to raise short-term bonds, putting a strain on liquidity and throwing into question its outstanding debt, according to local media reports.
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READ MORE: https://www.wsj.com/articles/chinas-debt-crunch-hits-large-manufacturer-1525442642
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