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China Must Reduce Reliance on Treasury Bills, China Daily Says

Posted by seumasach on April 1, 2010

Bloomberg

1st April, 2010

China should be cautious about investing in or selling U.S. Treasury Bills because of the risks they present, the China Daily quoted Cheng Siwei, former vice- chairman of the standing committee in the National People’s Congress, as saying.

The country’s limit for foreign-exchange reserves should be $800 billion, Cheng said in a speech at Fudan University, according to the report. China’s foreign-exchange reserves, the world’s largest, were $2.4 trillion in 2009, the China

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