China's June increase in foreign debt reserves to diversify assets

A total of 456.4 billion yen (about $5.3 billion trillion) of Japanese government debt was increased in June this year, according to a report published August 9 by the Japanese finance ministry.　　By the end of June this year, China has continued to increase its holdings of Japanese government bonds for 6 consecutive months, and this year's increase will hit a 2005-year high. The move means China is shifting its huge foreign-exchange reserves towards diversified assets, including Japanese Treasuries. In May, China's holdings were as high as 735.2 billion trillion yen, a figure that had reached its all-time high in 2005 years and far exceeded the 541 billion yen that it had increased from January to April this year.　　But China's increased holdings of Japanese government bonds do not mean that China's confidence in the Japanese economy is growing, because many of the purchases are short-term. According to the first financial journal