The funds were provided last week, one of them said.

The liquidity support comes at a time when Peking Founder has received investor approval to extend the grace period to repay an overdue onshore China bond until Feb. 21, 2020.

It missed a payment deadline for 2 billion yuan worth of maturing short-term commercial paper on Dec. 1. [nB9N28E031]

Sources have told Reuters that Peking Founder has already used up another 8 billion yuan it had previously borrowed from Cinda Asset, and that it still faced an average of 10 billion yuan of debt maturing each month. [nL4N28D2KE]

Peking Founder and bad-debt manager Cinda, one of China's four major asset management firms, did not immediately respond to Reuters requests for comments.

($1 = 6.9990 Chinese yuan)

(Reporting by Zhang Xiaochong and Ryan Woo in Beijing; Writing by Winni Zhou in Shanghai; Editing by Muralikumar Anantharaman and Himani Sarkar)