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China doubles investment in Japanese bonds

07-08-2010 09:32 BJT

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China has more than doubled its record investment in Japanese government bonds this year, underscoring its drive to diversify its massive foreign reserve.

China bought a net 541 billion yen worth of Japanese government bonds in the first four months of this year. Nearly 520 billion are debts maturing in less than a year, and the rest are medium to long term securities. China's purchase marks a sharp turnaround from last year, when it sold a net 80 billion yen. But this year, net buying in the first four months is more than double the 250 billion yen purchased in 2005 the full-year record.

Analysts say the increase coincides with Europe's fiscal crisis and may indicate China is putting more of its forex reserves into relatively stable Japanese government bonds as a result.

Editor:Xiong Qu |Source:

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