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China 'worried' about its American debt

Aileen McCabe Financial Post 03/21/2009 12:02
China 'worried' about its American debt


China is "a little bit worried" about the safety of all the American debt it holds, Premier Wen Jiabao said Friday.



"We have lent a huge amount of money to the United States. Of course we are concerned about the security of our assets and, to be honest, I am a little bit worried," Wen said at a news conference ending the annual meeting of National People's Congress, the country's top advisory body.

Wen called on Washington "to honour its words and stay a credible country and ensure the safety of Chinese assets."

Analysts estimate China's foreign exchange reserve reached almost US$2-trillion at the end of 2008, with about half invested in American Treasury bonds and other notes.


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