China eyes cut in euro exposure

China, which boasts the world's largest foreign exchange reserves, is reviewing its holdings of eurozone debt in the wake of the crisis that has swept through the region's bond markets.

Representatives of China's State Administration of Foreign Exchange, or Safe, which manages the reserves under the country's central bank, has been meeting foreign bankers in Beijing in recent days to discuss the issue.

The meetings were arranged amid growing speculation that Safe is considering reducing its exposure to the eurozone bond markets because of the deepening crisis in Europe.

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