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China isn’t likely to slash holdings of U.S. debt, and the country’s burgeoning savings pile means it will need to keep parking money in the world’s biggest government-bond market.

That’s the message from Fang Xinghai, vice chairman of the China Securities Regulatory Commission, who said at a World Economic Forum panel in Davos, Switzerland that he doesn’t think his country “will in any way significantly reduce its investment into the U.S. government bond market.”

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