China Dumping More Than Just Treasuries
The People’s Bank of China, owner of the world’s biggest foreign exchange reserves has dumped about $250 billion of US government debt and been using the funds to support the yuan and stem capital outflows. In addition to declining China sales of Treasuries, its holdings of US equities are also now showing steep declines.
“China’s ownership of American stocks sank about $126 billion, or 38 percent, from the end of July through March, to $201 billion.”
China’s ownership of American stocks sank about $126 billion, or 38 percent, from the end of July through March, to $201 billion, Treasury Department data show. That has outpaced selling by investors globally in that span — total foreign ownership fell just 9 percent.
About People Bank of China
The People’s Bank of China (PBC) was established on December 1, 1948 based on the consolidation of the Huabei Bank, the Beihai Bank and the Xibei Farmer Bank. In September 1983, the State Council decided to have the PBC function as a central bank. The Law of the People’s Republic of China on the People’s Bank of China adopted on March 18, 1995 by the 3rd Plenum of the 8th National People’s Congress has since legally confirmed the PBC’s central bank status.
Visit: People Bank of China
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