Chinese Premier reiterates worries over China's assets in U.S.

08:10, March 15, 2010      

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Chinese Premier Wen Jiabao said here Sunday that he is still worried about the safety of China's assets in the United States, urging the U.S. government to take actions to assure foreign investors of its treasury bonds.

"The instability of the U.S. dollar is a great concern for China's foreign assets," he said at a press conference after the National People's Congress concluded its annual session.

Wen said he was "a little bit worried" about the China's assets safety in the United States at the same occasion last year.

Wen reiterated that China needs to guarantee the "safety, liquidity and good value" of its foreign exchange reserves.

"Safety is China's top concern for the country's foreign reserve investment," Wen said, noting that China cannot afford any mistake in the management of the country's financial assets.

Wen expressed hopes that the United States could take concrete actions to ensure the security of the assets and assure its foreign investors, as the safety of U.S. treasury bonds are guaranteed by its national credibility.

According to the U.S. Treasury Department, China held 894.8 billion U.S. dollars in U.S. treasury bonds at the end of last year. This figure, revised up from the previous 755.4 billion U.S. dollars, means China remains the largest overseas holder of U.S. treasury bonds.

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