China cuts US debt holdings for 4th consecutive month

09:37, April 16, 2010      

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China trimmed its U.S. Treasury Bonds (T-Bonds) holdings by 11.5 billion U.S. dollars in February, according to data from the U.S. Treasury Department.

Though China has been reducing its U.S. debt holdings for four consecutive months, it still remains the largest U.S. T-bonds-holder.

At the end of February, China held 877.5 billion U.S. dollars worth of U.S. debt, 11.5 billion U.S. dollars less than the pervious month. Japan increased its U.S. debt holdings to 768.5 billion U.S. dollars, making it the second largest U.S. debt-buyer.

The U.S. Treasury Department's report showed that in contrast to the decline in T-bond holdings by China and Japan, holdings by Britain jumped 12.2 percent to 321.7 billion U.S. dollars. Hong Kong also recorded a large increase of 4 percent to 152.4 billion U.S. dollars.

Last month, Chinese Premier Wen Jiabao has called on the U.S. to "maintain its good credit, to honor its promises and to guarantee the safety of China's assets.”

By People's Daily Online


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