(Yicai Global) Oct.15 -- Authorities in the southern Chinese city of Shenzhen have set up special funds to the tune of CNY15 billion to assist listed-companies in dealing with pledge risks and boosting liquidity.

Shenzhen Small and Medium-Sized Enterprise Guarantee Group and Shenzhen HTI Group jointly established a CNY10 billion fund, while Kunpeng Capital set up a CNY5 billion pot, a market insider told Yicai Global.

The city's municipal government has begun forming a plan for assisting more than 20 listed Chinese companies that have faced pressure in terms of equity pledges and financing over the last two months.

Local authorities have also set up a special working group led by major officials from ten departments to coordinate and resolve stock pledge risks facing controlling shareholders of listed companies.

The insider provided a list of 37 listed companies in which the cost of debt funds was nine percent per year, and two of them may receive financial assistance through a fund of up to CNY2 billion. The list provided at the time was a framework and deals were not finalized. Issues such as the total amount of the risk-aid funds, number of assisted companies, and further adjustments "were not clear now," he said.

Risks among shareholders in listed companies in the Shanghai and Shenzhen stock exchanges have been frequently exposed this year, with shareholder share pledges liquidated at 59 firms. 190 of the 299 listed companies in Shenzhen under the China Securities Regulatory Commission, had equity pledges, accounting for 63.5 percent. The Shenzhen-listed enterprises exposed to liquidation risks related to equity pledges include Northcom Group and Quanxinhao among others, data from local content provider Wind shows.

Some listed companies in Shenzhen have already obtained financial aid from the local government earlier.

Eternal Asia Supply Chain Management agreed a deal early last month to transfer 106 million shares and five percent of Eternal Asia Supply Chain Management's shares to Shenzhen Investment Holdings for CNY584 million.

Prior to this, Eternal Asia Investment had transferred 13.3 percent of its shares to Shenzhen Investment Holdings in May for CNY1.8 billion. After completion of the two transactions, Shenzhen Investment Holdings has become controlling shareholder of Eternal Asia Supply Chain Management, with an 18.3 percent shareholding.