Principle of diversifying bonds will continue
Source: Xinhua |
March 13, 2012, Tuesday
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Print Edition
Print Edition
CHINA'S chief foreign exchange regulator said yesterday that China will continue to implement the principle of diversifying its investment in foreign bonds, noting that the Chinese holdings of eurozone bonds did not register losses as a portfolio.
Yi Gang, head of the State Administration of Foreign Exchange, was responding to a question on China's holdings of Greek bonds and other eurozone assets at a press conference on the sidelines of the ongoing annual parliamentary session.
Yi reiterated China's confidence in Europe despite the current debt crisis, saying China will continue to be a "long-term and responsible" investor in Europe.
"We believe Europe has the ability to ride out the European debt crisis with its own resources and help from the international community," Yi said. He stressed that risk control will be the priority for China's foreign reserves investment, with an emphasis on safety, liquidity and potential revenues.
"We won't put all the eggs in one basket," he said, adding that the diversified investment strategy had helped China's foreign reserves assets withstand shocks from the US subprime crisis, the bankruptcy of Lehman Brothers and the European sovereign debt crisis.
Yi Gang, head of the State Administration of Foreign Exchange, was responding to a question on China's holdings of Greek bonds and other eurozone assets at a press conference on the sidelines of the ongoing annual parliamentary session.
Yi reiterated China's confidence in Europe despite the current debt crisis, saying China will continue to be a "long-term and responsible" investor in Europe.
"We believe Europe has the ability to ride out the European debt crisis with its own resources and help from the international community," Yi said. He stressed that risk control will be the priority for China's foreign reserves investment, with an emphasis on safety, liquidity and potential revenues.
"We won't put all the eggs in one basket," he said, adding that the diversified investment strategy had helped China's foreign reserves assets withstand shocks from the US subprime crisis, the bankruptcy of Lehman Brothers and the European sovereign debt crisis.
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