China Province Steps Up Its Plead for State Aid on Debt Woes

One of China’s poorest and most indebted provinces is making a stronger push for state help to diffuse its financial risk, after local authorities recently sought to draw Beijing’s attention to the severity of its debt burden.

The southwestern Guizhou province has signed a cooperation agreement with China Cinda Asset Management Co., the nation’s top state-owned distressed asset manager, a major local newspaper reported on April 19, offering scant details about the pact. Cinda said a few days later it will send a group of 50 financial experts to Guizhou as part of efforts to help.