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Foreign exchange reserves: Government to buy Chinese government debt

TOKYO : Japan 's government is in discussions to purchase Chinese government debt to diversify its foreign exchange res
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By Shoaib Ur Rehman
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azumiTOKYO: Japan's government is in discussions to purchase Chinese government debt to diversify its foreign exchange reserves, but leaders of the two countries need to discuss the matter at a summit later this month before a formal decision is made, Finance Minister Jun Azumi said on Tuesday.

Azumi, speaking to reporters, said purchasing Chinese debt would help strengthen economic ties between the two countries.

Azumi also said that Japan maintains trust in the dollar and would not expect its purchases of Chinese debt to lead to market volatility.

 

Copyright Reuters, 2011

 

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