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Report: Chinese regulators consider starting credit default swaps trading

China's regulators are looking at the possibility ofstarting trading of credit default swaps, or CDS, amid the rising number ofdefaults among Chinese firms, Bloomberg News reported April 28, citing"people familiar with the matter."

The National Association of Financial Market InstitutionalInvestors had in March sought market opinion on CDS and credit-linked notes.Meanwhile, the China Foreign Exchange Trade System met with financialinstitutions earlier in April regarding the products.

Both entities did not reply to requests for comments fromBloomberg.

NAFMII is an arm of the People's Bank of China, which oversees interbank marketbonds, while the China Foreign Exchange Trade System oversees interbank bondtrading.