China is considering an overhaul of sovereign debt issuance as the world’s third-largest bond market seeks closer integration with the global financial system.
People close to the discussions say the country has been urged to rewrite its sovereign bond contracts in order to show support for a new Washington-backed financial framework designed to improve the relationship between governments and creditors.
International sovereign debt markets have undergone a radical transformation in the past two years as policymakers and financial institutions seek to prevent a repeat of the messy and protracted debt crisis that trapped Argentina for over a decade.
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