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Chinese holdings of Japan gov't bonds hit record high

06-05-2012 09:21 BJT

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Japan's Ministry of Finance and central bank data showed that China's holdings of Japanese government bonds, including short-term bonds, hit a record high of 18 trillion yen or 230 billion US dollars last year, which is a jump of over 70-percent over the previous year.

Data also shows that China continues to alter the composition of its foreign reserves portfolio, shifting more into assets denominated in Japanese yen from the U.S. dollar.

Analysts believe that both China and Japan will buy more bonds from each other in the future as the two countries began direct yen to yuan trading last Friday bypassing the U.S. dollar as a cross rate.

 

 

Editor:Zhang Rui |Source: CNTV.CN

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