CHINA-ECONOMY: CHINA PURCHASES HIGHEST NUMBER OF JAPANESE GOVERNMENT BONDS IN THREE AND A HALF YEARS
|
China has raised its purchases of Japanese government bonds (JGBs) to the highest level in three and a half years, in an apparent effort to reap greater yields on Beijing’s massive reserves of foreign currencies. Figures from Japan’s Finance Ministry and the Bank of Japan show that the Chinese bought 1.46 trillion yen ($13.8 billion) in medium- to long-term JGBs on a net basis between April and July, -- 3.6 times the amount from a year earlier. For July alone, the latest month available, China snapped up 723.9 billion yen, the biggest monthly total since January 2017.
|