Thursday, December 18, 2008

China adds US$65.9 bln U.S. treasury holdings in Oct

China increased its holdings in U.S. treasury securities by US$65.9 billon in October, pushing the total holdings up to US$652.9 billion, according to the latest report on international capital flows issued by the U.S. Ministry of Finance.

China surpassed Japan to become the largest holder of U.S. debt in September with total holdings of US$587 billion as of the end of September.

Since the second half of this year China has started buying more U.S debt with RMB 15 million bought in July, RMB 23.7 million in August, and RMB 44.6 million in September, said the report.

The statistics also revealed that Japan and the UK held US$586.5 billion and US$360.2 billion of U.S. debt at the end of October, ranking the second and third respectively. The combined holdings of the Top 3 U.S. debt holders accounted for 52.5% of all U.S. debt issued.

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