China cuts Treasury holdings -report [View All]

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China cuts Treasury holdings -report

By CBS MarketWatch
Last Update: 11:44 PM ET Nov. 25, 2004


TOKYO (CBS.MW) -- China has cut the size of its U.S. Treasury bond holdings in its foreign exchange reserves to $180 billion to avoid losses from a weakening dollar, according to a published report.


A report in the Shanghai-based China Business News cited Yu Yongding, a member of the monetary policy committee under the central bank, according to AFX-Asia.

The report did not say how much of a reduction in Treasury debt the cut represented. The central bank normally does not disclose the composition of its foreign exchange holdings...cont'd

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