http://www.clevelandfed.org/research/trends/2010/1110/ET_nov10.pdfChina's foreign exchange reserves are primarily in US dollars. This account has grown by a factor of five during as many years.
Delegates from Huatai United Securities in Shenzhen, China were bright and enthusiastic members of the Asset Allocation seminar at the NY Institute of Finance. They taught me that their government bonds are tax-free to Chinese investors!
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