China seeks outside help to develop debt markets

China has contacted the World Bank and Asian Development Bank to gauge their attitude toward helping develop fledgling Chinese debt markets by launching the first renminbi-denominated bonds to be issued by a foreign institution.

Both institutions have given a positive preliminary response, raising the possibility that China's corporate bond market could receive a crucial boost in the form of alternative benchmarks for highly rated credit.

"It is something that we would be open to, but it isn't

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