Date
20 July 2018

China boosts US debt holdings despite default risk, SCMP says

Beijing appears to be slowly adding to its holdings of US Treasuries despite the looming risk of a US debt default, the South China Morning Post reported Wednesday. Solid inflows of foreign capital into China’s capital account pushed up its foreign reserves, despite state media vehemence about Washington’s failure to meet its responsibilities as a leading power, the report said. China’s foreign exchange reserves grew by US$163 billion in the third quarter, the biggest quarterly increase since the second quarter of 2011. This suggests its Treasury holdings have also increased further, the report said.

– Contact HKEJ [email protected]

 SK

 

EJI Weekly Newsletter

Please click here to unsubscribe