China remains top holder of US treasury bonds

08:48, March 17, 2010      

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China cut its US Treasury bond holdings to $889 billion at the end of January from $894.8 billion the previous month, but remains the largest holder of US debts, according to figures released by the US Treasury Monday.

Foreign demands for US treasury securities fell in January. Japan, the second largest holder of US debts, trimmed its holdings to $765.4 billion, $300 million lower than that of the December, 2009. Other major debtors of the US like Brazil, Hong Kong and Russia sold $200 million, $2.1 billion and $17.6 billion bond holdings respectively in January, the data shows.

Chinese Premier Wen Jiabao reiterated Sunday that US treasury bonds are backed by US national credit and China hopes the US will take practical measures to reassures its investors, which benefits not only the debtors, but the US itself.

Source: Global Times
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