China increases US Treasury holdings
By Si Tingting | China Daily | Updated: 2009-07-18 08:10
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Traders in the 10-year Treasury note futures pit at the Chicago Board of Trade monitor the numbers. Experts say China should reduce its dependence on US Treasury holdings and look at other avenues like gold. Bloomberg News |
China, the biggest foreign holder of US Treasuries, increased its holdings of US government notes and bonds by $38 billion to $801.5 billion in May, according to a US Treasury report released on Thursday. The total amount, which exceeds $800 billion for the first time, was equivalent to 37.6 percent of its $2.13 trillion foreign exchange reserves then.
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