China Update

Via good friend Mr. Tony Tsai, CEO – BHG Retail Innovation Institute and EVP Operations – The BJ Hualian Hypermarket Co.:

"China reduces holdings of US Treasury bonds two months in a row; Japan may become the "biggest creditor" of the US: The US Department of the Treasury said on Feb. 15 that China reduced its holdings of US Treasury bonds two months in a row in Nov. and Dec. last year to less than $900b. Even though China is still the biggest holder of US Treasury bonds, the gap with Japan has narrowed to less than $8b."

"State Council publishes policies encouraging development of software and integrated circuit industries: The State Council publishes a series of policies encouraging the development of software and integrated circuit industries. The State Council reiterates that the software industry and integrated circuit industry are the state's strategic emerging industries and they are an important basis for the national economy and social informationization."