China remains biggest holder of U.S. Treasury securities
China increased its holdings of US Treasury securities by $9.7 billion last November, which increased its total holding to $1.26 trillion, maintaining its status as America’s largest foreign creditor, according to statistics released by the U.S. Department of Treasury Tuesday.
Since last January, China had cut its holdings for two consecutive months before it purchased more in four months afterwards.
Its total holdings peaked at $1.27 trillion in June. After minor adjustment, China started to cut the holdings in September. The holdings decreased to $1.25 trillion in October.
Chinese authority said that the U.S. Treasury securities is important for China. It will increase or cut holdings based on the market dynamics.
In November, overall foreign holdings of U.S. Treasury securities stood at $6.13 trillion. Japan, as the second largest holder, cut its holdings by $4.3 billion to $1.14 trillion, according to the statistics.