China Investment in US T-bonds a Market, Not Political, Behavior
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China's investment in the treasury bonds of the United States is a market behavior, and should not be politicized, Yi Gang, director of the State Administration of Foreign Exchange, said Tuesday.
The US treasury bond market is an important market for China while both buying and selling of the bonds are normal, Yi, also vice governor of the People's Bank of China, the central bank, said on the sidelines of the annual session of the National People's Congress, the supreme legislature.
"China is a responsible investor and the investment will be mutually beneficial," Yi said.
According to the US Treasury Department, at the end of last year, China held US$894.8 billion of US treasury bonds. The figure, revised up from the previous US$755.4 billion, making China the largest overseas holder of US treasury bonds.
(Xinhua News Agency March 9, 2010)