China boosts US debt holdings
Source: Agencies |
June 16, 2011, Thursday
|
Print Edition
Print Edition
CHINA, the biggest buyer of United States Treasury debt, boosted its holdings in April, the first increase after five straight declines.
The US Treasury Department yesterday said China increased its holdings by US$7.6 billion to US$1.15 trillion. Total foreign holdings of Treasury securities rose 0.2 percent to US$4.49 trillion.
Japan, the second-largest buyer of US debt, trimmed its holdings slightly by US$1 billion to US$906.9 billion. There had been concerns that the March 11 earthquake and tsunami would lead Japan to sharply reduce its purchases to use the money for reconstruction.
The government hit its US$14.3 billion borrowing limit on May 16. Since then, Treasury officials have been making various bookkeeping maneuvers to clear room to continue normal borrowing operations. Treasury Secretary Timothy Geithner has said he will run out of maneuvering room by August 2 if Congress has not passed a higher debt limit by that time.
Republicans are demanding spending cuts that would equal the total increase in the debt limit. But Federal Reserve Chairman Ben Bernanke warned Republicans it would be dangerous to use an increase in the debt ceiling in exchange for spending cuts.
The US Treasury Department yesterday said China increased its holdings by US$7.6 billion to US$1.15 trillion. Total foreign holdings of Treasury securities rose 0.2 percent to US$4.49 trillion.
Japan, the second-largest buyer of US debt, trimmed its holdings slightly by US$1 billion to US$906.9 billion. There had been concerns that the March 11 earthquake and tsunami would lead Japan to sharply reduce its purchases to use the money for reconstruction.
The government hit its US$14.3 billion borrowing limit on May 16. Since then, Treasury officials have been making various bookkeeping maneuvers to clear room to continue normal borrowing operations. Treasury Secretary Timothy Geithner has said he will run out of maneuvering room by August 2 if Congress has not passed a higher debt limit by that time.
Republicans are demanding spending cuts that would equal the total increase in the debt limit. But Federal Reserve Chairman Ben Bernanke warned Republicans it would be dangerous to use an increase in the debt ceiling in exchange for spending cuts.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
