Chinese regulators gave approval to a debt-laden city in the country’s east to get funding support from banks, as they move to help more localities after making progress recently in bailouts.
The banks were instructed earlier this month to provide additional help to local government financing vehicles in Weifang in Shandong province, according to people familiar with the matter. The banks were asked to provide support including loan refinancing, said the people, who requested anonymity as the information is not public.
