China's forex reserves not invested into Freddie Mac and Fannie Mae stocks

14:36, July 06, 2010      

Email | Print | Subscribe | Comments | Forum 

China has not invested its foreign exchange reserves into stocks of Freddie Mac and Fannie Mae, and the two companies' bond repayments are normal, according to China's State Administration of Foreign Exchange (SAFE) on July 6.

China had not bought stocks of Freddie and Fannie, and the delisting of the agencies' stocks has not affected the value of their bonds, which are a favorite with central bank reserve managers, said the SAFE.

Freddie Mac and Fannie Mae owned or guaranteed about half of the U.S. mortgage market. The U.S. government, which holds around 80 percent of the two companies, is their largest shareholder.

The delisting of the two companies stocks did not affect their bonds, and China will pay close attention to the situation and make sure that China's forex reserves are safe, SAFE said.

Responding to the question about whether China's forex reserves suffered losses during the global financial crisis, SAFE noted that China has kept its foreign exchange reserve assets "generally safe" and has witnessed good returns in 2008 and 2009.

By People's Daily Online

(Editor:祁澍文)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
  • Photo taken on Sept. 29, 2011 shows strong wind blows trees in Sanya, south China's Hainan Province. Typhoon Nesat heads towards south China and is moving at an average wind speed of 20 km per hour toward the west coast of China's Guangdong Province. (Xinhua/Hou Jiansen)
  • A fallen tree is seen on a road in Qionghai, south China's Hainan Province, Sept. 29, 2011. Typhoon Nesat was predicted to land in Hainan later Thursday, bringing heavy rainfalls to the island. (Xinhua/Meng Zhongde)
  • Arash Kamalvand (L) of Iran spikes the ball during the semifinal against South Korea at the 16th Asian Men's Volleyball Championship in Tehran, Iran, Sept. 28, 2011. Iran won 3-1 to advance to the final. (Xinhua/Ahmad Halabisaz)
  • A man visits "Thy Word Is Truth, the Bible Ministry Exhibition of the Protestant Church in China", during its opening at Mount Vernon Place United Methodist Church in Washington DC, capital of the United States, Sept. 28, 2011. Through the Bible's various Chinese versions, ancient or modern, as well as pictures, paintings, calligraphy, art works and historical documents, the exhibition was expected to give an overall understanding of how Bible was brought into China, how it was translated, published, distributed and loved. (Xinhua/Zhang Jun)
Hot Forum Discussion