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China cuts US treasury bills for first time in a year
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19:56, August 18, 2009

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China sold off 25.1 billion U.S. dollars worth of U.S. Treasury bills in June to bring its holdings to 776.4 billion dollars, according to data released Monday by the US Treasury Department.

The June figure represented a 3-percent decline from the 801.5 billion dollars in May, the biggest sell-off since June 2008, the treasury said.

China had been accumulating US T-bills for 10 consecutive months starting in June 2008 until it reduced its holdings to 763.5 billion dollars in April from $767.9 billion in March, the data showed.

After the offloading, China was still the No. 1 holder of the T-bills.


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