小编摘要：根据渣打银行(Standard Chartered Bank)的估算，中国在今年头四个月开始大举减少对美元资产的投资，最有可能的途径是购入多得多的欧洲国债。
根据渣打银行(Standard Chartered Bank)的估算，中国在今年头四个月开始大举减少对美元资产的投资，最有可能的途径是购入多得多的欧洲国债。
China began diversifying away from the US dollar in earnest in the first four months of this year, most likely by buying far more European government debt than US dollar assets, according to estimates from Standard Chartered Bank.
China’s foreign exchange reserves expanded by around $200bn in the first four months of the year, with three quarters of the new inflow invested abroad in non-US dollar assets, the bank estimated. For over six years, Beijing has continued to accumulate US government debt even as officials insisted they wanted to reduce the weighting of US dollar assets in reserves, which exceed US$3,000bn.
“It certainly appears that China’s finally following through on its policy to diversify its foreign reserve holdings away from the US dollar,” said Stephen Green, the bank’s chief China economist.
Between December 2007 and March this year, China’s foreign exchange reserves doubled to $3,044bn and over that time most analysts believe the proportion of US dollar assets in the reserves remained relatively steady at between 60 and 70 per cent of the total. Beijing routes purchases through custodian banks and overseas financial centres, such as London and Hong Kong, to disguise its offshore purchases.
Standard Chartered compared China’s inflow of new foreign exchange reserves to net purchases of US government debt by buyers in China, Hong Kong in London. Purchases by China, Hong Kong and London-based buyers fell dramatically in the first four months of this year to $46bn – equivalent to just 24 per cent of the $196bn in foreign exchange that China accumulated over the same period.
Mr Green said it was possible China had found a new way to disguise its purchases of US government debt – or could be buying riskier US assets that don’t show up in monthly data.
In recent months, Chinese leaders have repeatedly pledged to help European countries struggling with sovereign debt crises. “Even if Beijing were not concerned about the US fiscal situation and/or the US dollar, the yields on offer in the euro market would likely be attractive enough for it to diversify into Europe at the margin,” Mr Green said. There is no sign China is reducing its existing holdings of US dollar assets and it remains by far the largest foreign owner of US securities with $1,611bn by June 30, 2010, according to the US Treasury.
2011-06-22 10:22 编辑：典典
The US Congress moved closer to punishing China for allegedly manipulating its currency, as a key committee of the House of Representatives voted to advance legislation that could