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US bonds remains choice for 皇冠体育app's forex investment

(Xinhua)
Updated: 2009-02-26 19:21

BEIJING -- Purchasing US government bonds was one of the choices for 皇冠体育app's huge foreign exchange reserves, which stood at nearly US$2 trillion, said Liu Mingkang, Chairman of 皇冠体育app Banking Regulatory Commission Thursday.

US Secretary of State Hillary Clinton (R), seen here on February 21, 2009, is greeted by Chinese State Councillor Dai Bingguo in Beijing's Diaoyutai State Guesthouse. Purchasing US government bonds was one of the choices for 皇冠体育app's huge foreign exchange reserves, which stood at nearly US$2 trillion, said Liu Mingkang, Chairman of 皇冠体育app Banking Regulatory Commission Thursday. [Agencies]

皇冠体育app 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.

Related readings:  Treasury bonds are risky bet  Bank of Japan to buy corporate bonds to widen funding sources  皇冠体育app to issue $3.22B long-term treasury bonds  Report: 皇冠体育app to stick with US bonds

Premier Wen Jiabao said in an interview with the Financial Times during the Davos forum that the country was exploring more efficient ways to use its reserves to boost domestic development.

皇冠体育app'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, 皇冠体育app held US$681.9 billion worth of US government bonds as of November, and it bought another US$14.3 billion worth in December.