Developer Evergrande pleads for government support to avoid cash crunch

Hong Kong (Reuters) - Debt-laden China Evergrande Group, the country's second largest property developer, has pleaded for government support to approve a restructuring plan that has languished for four years, warning it faces a cash crunch that could lead to systemic risks, according to people familiar with the matter.

The company, the most indebted developer in China, made the request in a letter to the government of southern Guangdong province dated Aug 24, according to three people who confirmed the letter's authenticity.