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China to continue diversifying holdings of foreign bonds: SAFE head

Source:   Time:

BEIJING, March 12 (Xinhua) -- China's chief foreign exchange regulator said Monday China will continue to implement the principle of diversifying its investment in foreign bonds, saying its holdings of eurozone bonds did not register losses as a portfolio.

Yi Gang, head of the State Administration of Foreign Exchange (SAFE), made the remarks in response to a question on China's holdings of Greek bonds and other euro assets at a press conference on the sidelines of the ongoing annual parliament session.

Yi reiterated China's confidence in Europe despite the current debt crisis, saying China will continue to be a "long-term and responsible" investor in Europe.

In terms of the value of China's investment portfolio in eurozone bonds, Yi said revenues of China's eurozone portfolio still beat the inflation in Europe despite the ongoing debt crisis.

Yi stressed risk control will be the priority of China's foreign exchange investment, with the emphasis on safety, liquidity and potential revenues.

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