- CNTV English - CCTV News

US ambassador Locke: China holdings in US treasuries safe

08-16-2011 09:01 BJT Special Report:After S&P Downgrades U.S. Credit Rating |

Watch Video

Play Video

Newly arrived U.S. ambassador to China, Gary Locke, is playing down China's concerns over its massive holdings of dollar assets.

It's estimated China has invested about two thirds of its 3.2 trillion dollar foreign exchange reserves - the world's largest - in U.S. dollars. And the recent U.S. credit rating cut to double A plus has clouded the outlook for those investments.

But Gary Locke says the U.S. government is making concrete efforts to solve the country's fiscal issues. He reassures, the U.S. economy is strong despite its challenges, and investment is secure.

New U.S. ambassador to China Gary Locke (R, front)and his family members walk out from the ambassador's residence for meeting the press in Beijing, capital of China, Aug. 14, 2011. (Xinhua/Xing Guangli)

Locke said, "The President and the congress have joined together on a path ensuring fiscal integrity of the United States of America. And we note that over the last several days more people are buying U.S. Treasury, so it is a clear indication that investment in the United States is safe and secure, and that the economy, while having its challenges, it is still strong. And that the investment in the United States is to be promoted."

New U.S. ambassador to China Gary Locke addresses the media at the ambassador's residence in Beijing, capital of China, Aug. 14, 2011, with his wife and three children standing behind him. (Xinhua/Xing Guangli)


Mona Lee Locke (2nd L), wife of the new U.S. ambassador to China Gary Locke (1st L), meets the media, together with her family members, at the ambassador's residence in Beijing, capital of China, Aug. 14, 2011. (Xinhua/Xing Guangli)

Editor:Li Wanran |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program