China increases US treasury holdings
By Xin Zhiming | China Daily | Updated: 2008-12-17 07:54
China increased its holdings of US treasury securities by $65.9 billion in October, consolidating its place as the No 1 holder of American debt, according to the Treasury's latest report on international capital flows.
It was China's largest monthly increase this year, pushing the country's total holdings to $652.9 billion, compared with $587 billion at the end of September, when it replaced Japan to become the top holder of US debt.
The continual increases in US debt holdings in recent months have triggered fierce domestic debate, as the country has channeled almost a third of its $2 trillion of foreign exchange reserves into US treasury securities.
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