China cuts US debt holdings
Print Edition
China cuts its holdings of US Treasury securities in November, after adding US$8.4 billion in October.
China’s holdings of US Treasuries dropped by US$12.6 billion to nearly US$1.18 trillion in November. China remained the largest holder of US Treasuries.
Japan, the second-largest holder of US Treasuries, also cut its holdings by US$9.9 billion to US$1.08 trillion in the month. Japan has cut its Treasuries holdings for four straight months.
By the end of November, overall foreign holdings of US Treasury securities slightly fell to US$6.34 trillion from October’s revised US$6.35 trillion.
The State Administration of Foreign Exchange, China’s top forex regulator, recently dismissed a foreign media report that China was considering slowing down or even halting its purchase of US securities.
China’s forex reserves have been invested in a diverse and decentralized manner to keep assets safe and ensure they grow in value steadily, the SAFE said in a statement.
Like other investment moves, the purchase of US Treasuries is market-based behavior and is subject to professional management based on market conditions and investment targets, said the statement.
China’s forex reserves rose for 11 months to US$3.14 trillion at the end of December, as the economy got on a firmer footing and the government stepped up regulation of illegal capital transfers and overseas investment.
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