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China Nearly Triples Korean Bond Holdings

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Asia_1 October 4, 2010 (Chinavestor) The U.S. Japan. Add South Korea to the list of countries whose debt China seems to love because through the first nine months of 2010, China's holdings of South Korean debt nearly tripled. One reason for the surge in Chinese investment in Korean bonds is Beijing's desire to diversify some of its currency reserves away from dollar-denominated assets.

The amount of Korean Treasury bonds owned by China was $4.6 billion at the end of September, 175 percent more than at the start of the year, according to data released today by South Korea’s Financial Supervisory Service, Bloomberg News reported. China owns just under $847 billion in U.S. Treasuries.

China’s holdings of South Korean notes account for less than 0.2 percent of its $2.45 trillion reserves, according to Bloomberg. As we have reported here, Japan has been on the receiving end of plenty of Chinese investment in yen-denominated bonds. China purchased $7 billion in Japanese debt in July.



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