China's purchase of Japanese bonds is on track for an annual record

08/8/2010 | Bloomberg · People's Daily (China)

China bought a net $5.3 billion in Japanese bonds in June, putting it on track for a record yearly increase, according to the Japanese Finance Ministry. "China's purchase is probably a part of its efforts to hedge against a risk of the dollar's or euro's depreciation in the future," said Susumu Kato of Credit Agricole. "In the long run, yen-denominated bonds will be held more broadly among Asian countries, which is positive for Japan's bond market."

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Bloomberg · People's Daily (China)

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