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Premier Wen Reiterates Worries over China's Assets in US

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Chinese Premier Wen Jiabao said Sunday that he is still worried about the safety of China's assets in the United States, urging the US government to take actions to assure foreign investors of its treasury bonds.

"The instability of the US dollar is a great concern for China's foreign assets," he said at a press conference after the National People's Congress concluded its annual session.

Wen said he was "a little bit worried" about the China's assets safety in the United States at the same occasion last year.

Wen reiterated that China needs to guarantee the "safety, liquidity and good value" of its foreign exchange reserves.

"Safety is China's top concern for the country's foreign reserve investment," Wen said, noting that China cannot afford any mistake in the management of the country's financial assets.

Wen expressed hopes that the United States could take concrete actions to ensure the security of the assets and assure its foreign investors, as the safety of US treasury bonds are guaranteed by its national credibility.

According to the US Treasury Department, China held US$894.8 billion in US treasury bonds at the end of last year. This figure, revised up from the previous US$755.4 billion, means China remains the largest overseas holder of US treasury bonds.

(Xinhua News Agency March 14, 2010)

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