China has become the biggest holder of Japanese bonds, the National Business Daily reported Saturday.

　　据《国家商业报》周六报道，中国已经成为日本国债最大持有者。

　　The choice came as global investors have been dumping U.S. bonds, traditionally considered a safe haven.

　　之所以会出现这种变化，是因为国际投资者一直在抛售美国国债，而传统上日本国债一直被认为是一个避风港。

　　Japanese investors sold 2.262 trillion yen ($20.1 billion) of U.S. bonds in December, data from Japan’s Ministry of Finance showed.

　　据日本财政部公布的数据显示，去年12月日本投资者抛售了价值2.262万亿日元(约合201亿美元)的美国国债。

　　That was their biggest net sale since May 2013, when U.S. bonds crashed on suggestions from then Federal Reserve Chairman Ben Bernanke that the Fed could taper its bond buying program.

　　这是自从2013年5月份以来最大规模的净出售，当时由于美联储主席伯南克表示美联储可能会削减购买债券计划，导致美国债券崩溃。

　　U.S. bond prices have plunged since U.S. President Donald Trump’s election victory in November, forcing Japanese investors to do an about-face after massive buying of dollar-denominated debt that ranged from U.S. Treasury securities to corporate bonds.

　　自从去年11月美国总统川普赢得大选以来，美国债券价格暴跌，使得之前曾大举买入美元债券(包括美国国债和美国企业债券)的日本投资者们突然后撤。

　　Chinese investors have been selling U.S. bonds since May 2016.

　　自从2016年5月份以来，中国投资者一直在抛售美国债券。

　　According to figures released by the Treasury Department in January, China’s holdings of U.S. government bonds dropped by $66 billion in November to $1.05 trillion.

　　据一月份财政部公布的数据显示，去年11月份中国持有美国债券规模下降了660亿美元，仅剩1.05万亿美元。

　　China has lost its position as the U.S.’ biggest overseas creditor to Japan, according to media reports in December 2016.

　　据2016年12月媒体报道称，日本已经取代中国成为了美国最大的海外债主。

　　However, China has now become the biggest holder of Japanese bonds, despite their ultra-low yield level, the newspaper reported, citing data from Japan’s Ministry of Finance.

　　但是这篇新闻引述日本财政部的数据报道称，中国现在已经成为了日本最大的债主，虽然这些债券的收益非常低。

　　Chinese investors’ net purchase of Japanese bonds in 2016 reached 11.2 trillion yen, the highest level since 2005, according to the report.

　　报道显示，2016年中国投资者日本债券净买入额达到了11.2万亿日元，创下了2005年以来的最高水平。

　　The Japanese government has been wooing investors to buy its bonds, and despite their low and sometimes negative yields, investors can still benefit from hedging, the newspaper reported.

　　报道称，日本政府一直吸引投资者购买其债券，而且尽管日本债券收益很低、有时甚至是负收益，投资者们仍然可以通过套期保值获得收益。

　　Previously, the biggest holder of Japanese bonds by value were Luxemburg, the U.S., the UK, France, China, Singapore and Belgium.

　　此前，卢森堡、美国、英国、法国、中国、新加坡和比利时都曾经成为过日本的最大债主。

（编辑：何莹莹）