Source: CCTV.com

07-29-2008 14:53

The Industrial and Commercial Bank of China says it has very limited exposure to troubled US mortgage lenders Fannie Mae and Freddie Mac.

Merrill Lynch estimates that China holds 438 billion US dollars of Fannie and Freddie debt, with more than 90 percent of it in the hands of the State Administration of Foreign Exchange.

SAFE is a subsidiary of the central bank that manages the country's foreign exchange reserves.

 

Editor:Yang Jie