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From Chinese Media

China net seller of long-term US agency bonds in Dec

Updated: 2011-02-16 18:04

By Qiang Xiaoji (chinadaily.com.cn)

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According to the latest statistics released by the US Treasury Department, China's net selling of its holdings of long-term US agency bonds (including Fannie Mae and Freddie Mac's bonds) totaled $1.93 billion in December. Net selling reached $29.3 billion in 2010, the China Business News (CBN) reported Wednesday.

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Statistics also showed that China reduced its holdings of US treasury bonds by $4 billion in December, and the total reduction in 2010 amounted to $3.2 billion. However, China still remained the US's biggest debt holder, the report said.

As a major overseas holder of Fannie Mae and Freddie Mac's bonds, people are worried that China would face huge risks after the US government announced plans to phase out the two housing mortgage giants on Feb 11.

According to calculations by CBN, China continuously reduced its holdings of long-term US agency bonds between July 2008 and December 2010. The total amount of net selling hit $82.9 billion – an average of $2.76 billion every month.

 

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