PBOC dismisses bailout rumor
China Daily | Updated: 2008-10-07 07:40
The central bank has denied media reports that China will buy up to $200 billion worth of US treasuries to help Washington combat the deepening financial crisis.
Bai Li, spokesman for the People's Bank of China, said that "it is the first time I have ever heard about such rumors".
According to Hong Kong media reports, China will initially spend $70-80 billion to buy US treasury bonds.
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