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CHINA> National
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US bonds remains choice for China's forex investment
(Xinhua)
Updated: 2009-02-26 19:21 BEIJING -- Purchasing US government bonds was one of the choices for China's huge foreign exchange reserves, which stood at nearly US$2 trillion, said Liu Mingkang, Chairman of China Banking Regulatory Commission Thursday.
China manages its foreign exchange reserves under the principle of maintaining safety, liquidity and profitability, Liu told a press conference on measures of banking system against financial crisis.
China's reserves hit a record US$1.95 trillion ars at the end of 2008, the largest in the world and far exceeding those of Japan, the second-largest foreign exchange holder with 1.03 trillion US dollars. According to the US Treasury, China held US$681.9 billion worth of US government bonds as of November, and it bought another US$14.3 billion worth in December. |
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