According to the report, average monthly net purchases of US Treasuries have been unchanged for the past two years while net purchases of US Agency bonds are rising.
Since 2004, the average annual addition to foreign-exchange reserves has been
$220 billion, says the report.
ChinaÆs external assets refers to official foreign exchange reserves, direct investments abroad, deposits in foreign banks, portfolio investments and lending to non-residents.
Even with the overall increase in US Treasury and Agency...