Cut in Japanese bond holdings 'not motivated by politics'

Decision to reduce made because of China's concerns over yen's continued depreciation, say economists

Yen depreciation fears prompted China to reduce its huge exposure to Japanese government bonds, Chinese economists said on Wednesday, dismissing suggestions that the move was politically motivated.

China cut its holding of JGBs by 6.2 trillion yen ($59.8 billion), or 30 percent, to 14.3 trillion yen by the end of 2013, the Nihon Keizai Shinbun reported on Monday, citing statistics from Japan's finance ministry.