Reported 8 months ago
Chinese regulators have approved a debt-laden city in the east of China to receive funding support from banks, expanding their assistance to more localities after successful bailouts in some regions. The banks have been instructed to provide additional help to local government financing vehicles in Weifang, Shandong province, including loan refinancing. This move demonstrates the central government's increasing efforts to manage debt risks and expand bailout programs to more indebted cities, following initial successes in areas like Tianjin.
Source: YAHOO