China's big increase in Korean government bonds

China's holdings of South Korean government bonds rose 111% to 3.99 trillion won (about $3.4 billion trillion) in the first half of the year, boosting South Korean government debt to its biggest rebound in 3 years, according to data released August 18 by the South Korean Financial regulatory Services Bureau.　　Analysts point out that if China buys South Korean government bonds at this rate, it will reach 4 trillion won by the end of the year. China is buying a lot of European and Japanese bonds in the near future. Japan's finance ministry said August 9 it had bought 456.4 billion yen (about $5.3 billion trillion) of Japanese government bonds in June, increasing its holdings for the sixth consecutive month.　　China's net gain of 1.73 trillion yen (about $20.3 billion trillion) in the first half was the highest level in more than 5 years. On the other hand, China's net selling of US Treasuries for the second consecutive month, according to data released by the US Treasury August 16, has reduced China's holdings of US Treasuries by $24 billion trillion to $843.7 billion trillion, with a long-term US debt reduction of $21.2 billion trillion. According to the first financial daily