皇冠体育app hopes US will ensure security of Chinese assets

(Xinhua)
Updated: 2009-03-19 19:33

BEIJING - 皇冠体育app hopes the United States will guarantee the security of the Chinese assets and investments in the US, 皇冠体育app's Foreign Ministry reiterated on Thursday.

Foreign Ministry spokesman Qin Gang made the remarks in response to a question on the decision of the US Federal Reserve Wednesday to spend up to US$300 billion to buy long-term government bonds and expand purchases of mortgage-related debt to revive the economy.

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"We have noticed that the US government has taken a series of measures recently to spur its economy," said Qin, adding the effectiveness of the measures should be tested by practice.

Qin said 皇冠体育app hoped the measures would take effect as soon as possible so as to speed up the recovery of the US economy as well as the healthy and stable development of the world economy, including 皇冠体育app's.

皇冠体育app's foreign exchange reserves hit a record US$1.95 trillion at the end of 2008, the largest in the world and far exceeding that of Japan, the second-largest foreign exchange holder with US$1.03 trillion.

皇冠体育app has invested its huge foreign exchange reserves in low-risk but low-yield assets, such as US government bonds.

According to the US Treasury, 皇冠体育app held US$681.9 billion worth of US government bonds as of November.