China Denies It May Slow Purchases of US
January 11, 2018
China is denying a published report that it
may slow or even stop purchasing U.S.
Sources told U.S.-based financial news
outlet Bloomberg Wednesday that senior
government officials recommended the action
as the market for U.S. government bonds is
becoming less attractive, along with rising
trade tensions with the United States. The
Bloomberg report triggered a decline on bond
markets and a selloff of the U.S. dollar
during the day.
a statement posted on its website Thursday,
China’s State Administration of Foreign
Exchange said the Bloomberg story was either
misinformation or “fake news.” The agency
says the country’s huge reserves of foreign
currencies are professionally managed on the
basis of market conditions and investment
China has the world’s largest
foreign-exchange reserves at $3.1 trillion.
The U.S. Treasury Department says China
holds about $1.2 trillion in Treasuries,
making it the largest foreign holder of U.S.
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