China Construction Bank Cut 83% Of Foreign Currency Bonds Since Crisis-Xinhua

BEIJING,The China Construction Bank Corp. (CICHY), the country's second-biggest commercial lender by assets, reduced 83% of its foreign currency bond holdings since outbreak of the global financial crisis, the state-run Xinhua News Agency reported Monday.
Reduction in the foreign currency bonds is seen as part of moves to avoid risks brought by the crisis, and the report praised the bank as a successful example among Chinese banks to reduce such holdings.
Value of the bonds cut by the bank was nearly $30 billion, the report said.