BIZCHINA> Top Biz News
![]() |
Cut in holdings of US debt may help diversify China's reserves
By Si Tingting (China Daily)
Updated: 2009-08-19 07:22
![]() China drastically cut its holdings of US Treasury debt in June, but its purchase of more long-term securities indicates no significant change in its interest in US government bonds. The country's holding of US Treasury securities fell to $776.4 billion in June, from a record high of $801.5 billion in May. Despite the biggest monthly drop since 2000, China still retained its position as the top holder of US treasuries, according to US Treasury data released on Monday. While slashing its holdings of short-term bills by 25 percent, to $158.7 billion, China rotated into longer-dated maturities by $27 billion, a 4.5 percent increase.
"The fact that China has now returned and bought long-term notes is an encouraging sign," Patrick Bennett, Asia Foreign Exchange Rates Strategist with Societe Generale in Hong Kong, told China Daily. "It shows that China, as an investor, sees value in the issues and this speaks to the credibility of US policies." Bennett dismissed the idea that China's reduction in the holding of US treasuries represents "a big move". "The change is a slight surprise, but we need to see the next couple of months' data before determining the trend of purchases," he said.
"The recent pattern suggests China hastened its effort to diversify its international reserves," Crescenzi said. China's foreign exchange reserves totaled $2.13 trillion at the end of June. Yin Zhongli, a senior researcher with the financial research institution of the Chinese Academy of Social Sciences, believes that the share of US dollar-dominated assets in China's foreign exchange reserves is too large. "So, we have to diversify our portfolio for risk aversion," Yin said, adding that the country might buy more assets denominated in other foreign currencies, such as the euro, the Japanese yen and the Australian dollar. "But investment in US treasuries is still relatively safe compared with other options, because the recovery of the US economy is, by and large, stronger than other major economies, such as the European Union," he said. (For more biz stories, please visit Industries)
|
主站蜘蛛池模板: 成人免费午间影院在线观看 | 一级亚洲 | 久久午夜国产片 | 免费观看欧美一级毛片 | 久久精品亚洲 | 欧美 自拍 | 中文字幕最新中文字幕中文字幕 | 国产三级在线免费 | 最新亚洲一区二区三区四区 | 日本三级s级在线播放 | aa日本| 欧美成人看片黄a免费 | 亚洲综合一二三区 | 手机在线免费毛片 | 九草视频在线观看 | 国产一区二区亚洲精品 | 国产欧美一区二区三区在线 | 国产精品揄拍一区二区久久 | 中国a级淫片免费播放 | 免费看欧美日韩一区二区三区 | 成年午夜性视频免费播放 | 99视频有精品 | 黄+色+性+人免费 | 波多野结衣中文视频 | 国产xvideos国产在线 | 久久久久久综合七次郎 | 亚洲午夜片 | 中文字幕在线网址 | 手机看片神马午夜片 | 日本高清色www | 亚洲网站免费看 | 日本a级精品一区二区三区 日本a级毛片免费视频播放 | 久久久国产在线 | 午夜免费成人 | 一级特黄aa大片欧美 | 一级毛片免费不卡夜夜欢 | 99色视频在线观看 | 在线观看中文字幕一区 | 亚洲成人影院在线观看 | 久久久久久综合成人精品 | 久草免费在线观看 |