Saturday September 22nd, 2018 3:23AM

China: Report buying of US debt might stop is 'fake news'

By The Associated Press

BEIJING (AP) — China's foreign exchange regulator on Thursday challenged a report it might slow or stop purchases of U.S. Treasury debt due to trade tensions with Washington as "fake news."

The State Administration of Foreign Exchange, one of the biggest holders of Treasuries, said it is a "responsible investor" for both the reserves and "participating markets."

Bloomberg, citing unidentified sources, reported Chinese authorities were considering slowing or halting purchases of Treasuries and said they might cite trade tensions as a reason. That prompted a sell-off of U.S. government debt in global markets.

"The news may quote the wrong information source, or it may be fake news," SAFE said on its website.

Beijing keeps a big share of its $3.1 trillion in foreign currency reserves in Treasury debt, which is considered safe and easy to trade. The level rises and falls each month as Chinese currency regulators buy and sell dollars to maintain the exchange of Beijing's tightly controlled yuan.

China owned at least $1.2 trillion of Treasury debt as of October, according to U.S. government data. Beijing is believed to hold additional assets through intermediaries in Switzerland other financial centers.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets, AP Business - Industries, AP Business - Financial Services
© Copyright 2018 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Asian shares mixed after Wall Street rally fizzles
Asian stock markets mixed after Wall Street posts first losses of 2018
2:53AM ( 30 minutes ago )
Thomas returns at Sony Open and scene of scoring records
On The Tee: Justin Thomas defends his record win at Sony Open while Ernie Els starts 30th year in South Africa
2:46AM ( 37 minutes ago )
Hundreds search for victims of California mudslide
Hundreds of searchers continued the grueling work Thursday of hunting for survivors and digging up bodies in the sea of mud and wreckage left by flash flooding in this wealthy coastal enclave
2:44AM ( 39 minutes ago )
Associated Press (AP)
China's modern Silk Road hits political, financial hurdles
China's plan to expand trade across Asia and Europe with a modern Silk Road of railways and other infrastructure is hitting political and financial hurdles
12:29AM ( 2 hours ago )
Another GOP governor seeks exclusion from drilling proposal
Another Republican governor is asking the Trump administration to exclude his state from a plan to open more U.S. coastal waters to offshore oil drilling
12:27AM ( 2 hours ago )
Coal executive's 'wish list' finds success under Trump
A coal company executive's "wish list" of actions that seek to roll back environmental and mine safety regulations has caught the eye of the Trump administration
12:24AM ( 2 hours ago )
AP Business
Norway's PM makes business case of 'green economy' to Trump
Norway's prime minister is telling President Donald Trump that her country remains committed to the Paris climate agreement, making the business case of the "green economy" to the real estate developer-turned president
9:01PM ( 6 hours ago )
New Toyota-Mazda plant will bring 4,000 jobs to Alabama
Toyota and Mazda have chosen Southern U.S. state of Alabama as site of new $1.6 billion joint-venture plant
6:44PM ( 8 hours ago )
As companies give bonuses, prospect of pay gains still hazy
As some companies award bonuses in wake of corporate tax cut, prospect of pay gains still hazy
5:57PM ( 9 hours ago )
AP Business - Economy
Worries China will lower US asset purchases hits markets
Global shares fall as momentum from Wall Street's long winning streak fades
7:46AM ( 19 hours ago )
Global shares slide as Wall Street rally fades
Global shares fall as momentum from Wall Street's long winning streak fades
4:09AM ( 23 hours ago )
Asian share prices mostly lower as Wall Street rally fades
Shares fall in Asia as Wall Street's extended winning streak fades
1:06AM ( 1 day ago )
AP Business - Financial Markets
Trump lender, other convicted banks get reprieves from feds
Five banks, including a big lender to President Donald Trump, have received temporary reprieves from the administration to run businesses that they otherwise would have had to shut down after criminal convictions
7:21PM ( 8 hours ago )
Dems say Trump action on Florida drilling guided by politics
Opposition to the Trump administration's plan to expand offshore drilling mounts
7:20PM ( 8 hours ago )
Coal baron's action plan became Trump policy initiatives
The head of one of America's largest coal companies sent a four-page "action plan" to the White House calling for rollbacks of key environmental and mine safety regulations
5:16PM ( 10 hours ago )
AP Business - Industries
Britain presses Germany for EU financial services deal
Britain's Brexit minister and Treasury chief say there's no sense in Germany setting up "unnecessary barriers" to trade in goods and services after Britain leaves the European Union
9:04AM ( 18 hours ago )
Transcripts show Fed divided in 2012 over bond purchases
Transcripts show Fed divided in 2012 over need for third round of bond purchases to lift economy
3:18PM ( 5 days ago )
In new rule, Trump tries to deliver a health care promise
The Trump administration is proposing regulations to facilitate the interstate sale of health insurance policies that cost less but may not cover as much
1:40PM ( 6 days ago )
AP Business - Financial Services
Asian shares mixed after Wall Street rally fizzles
Asian stock markets mixed after Wall Street posts first losses of 2018
2:53AM ( 30 minutes ago )
Thomas returns at Sony Open and scene of scoring records
On The Tee: Justin Thomas defends his record win at Sony Open while Ernie Els starts 30th year in South Africa
2:46AM ( 37 minutes ago )
Hundreds search for victims of California mudslide
Hundreds of searchers continued the grueling work Thursday of hunting for survivors and digging up bodies in the sea of mud and wreckage left by flash flooding in this wealthy coastal enclave
2:44AM ( 39 minutes ago )
Greitens acknowledges affair, denies blackmail allegations
Missouri Gov. Eric Greitens acknowledges he was "unfaithful" in his marriage but denies allegations that he blackmailed the woman he had an extramarital affair with to stay quiet
2:39AM ( 45 minutes ago )
Young college try: Boeser, Keller impress as NHL rookies
College products Brock Boeser and Clayton Keller are impressing as NHL rookies
2:37AM ( 47 minutes ago )