China State Firm in Rare Move Sells Debt to Help Fund Local LGFV – Bloomberg
A state-owned firm in Chinas Guizhou province is selling bonds to help repay debt issued by a local government financing vehicle, a rare move that highlights the regions liquidity strains. Guizhou Hongyingda Construction Project Management Co., a wholly-owned subsidiary of the finance bureau of Xixiu district in Anshun city, issued a 1.8 billion yuan ($250…