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A high ranking official from the China Central Bank issues a statement
on March 23, 2009, unambiguously expressed that China will continue to
invest in the US treasury bonds while closely watching the fluctuations
in asset values of the US treasury bonds.
When being asked about safety of the US treasury bonds by a reporter,
the official said, "the US treasury bond is an important part of the
overall investment of China's foreign exchange reserves. Therefore, we
do pay attentions to the safety and profitability of the US treasury
bonds."
The official believes that the safety of the treasury bonds must be
viewed from many different angles. Generally speaking, the treasury
bonds possesses comparably low credit risks. But in terms of market
risks, asset values may show certain fluctuations during different
periods.
The official indicates, as an important part of China's foreign exchange
reserve investments, China will continue to invest in the US treasury
bonds while closely watching fluctuations in the asset values.
When answering a question about the diversified global monetary system,
the official says, China believes that this topic can be studied and
discussed, but at the present time, US dollar is still the most
important currency in the international trade settlements, pricing and payments.
It is also a major currency for financial investments in most countries.
China more focuses on strengthening regulatory measures on the international monetary system dominated by
the US dollar.
When talking about what roles Renminbi can play in international trade,
the official says, in order to further promote international trade,
China has prepared to implement Reminbi based trade settlements, pricing
and payments in Hong Kong, and to start Reminbi based trade settlements with the
ASEAN countries in the Pearl River Delta Region of Guangdong Province.
Source: Xinhua Net
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