CRI听力:China Starts Dumping U.S. Treasury Bond: WSJ

The Wall Street Journal reports that central banks including China, Russia and Brazil are selling U.S. government bonds at the fastest pace on record.

It's also being reported that China's central bank has stepped up its selling of U.S. treasuries in recent months following the weakening of the renminbi on August 11.

It is said that to contain the selloff, China's central bank has been buying yuan and selling dollars to prevent the yuan from weakening further.

According to the report, it is estimated that China's central bank spent between 120 billion U.S. dollars and 130 billion U.S. dollars in August in an attempt to bolster the yuan's value.

For more on this, CRI's Spencer Musick spoke with Cao Can, CRI's financial commentator.

Questions:
1.What has prompted China's central bank to sell U.S. treasury bonds?

2.How will the selloff affect the yield of U.S. treasury bonds?

3.Latest stats show China's foreign exchange reserves fell to some 3.5 trillion U.S. dollars at the end of September, marking the fourth consecutive month of declines. Do you foresee further selloff of U.S treasury bonds for China in the near future or do you think China's foreign reserves will remain steady going forward?