China cuts US treasuries holdings in November 2017
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E-mail Xinhua, January 18, 2018
China cuts its holdings of U.S. Treasury securities in November 2017 after adding 8.4 billion U.S. dollars in October.
China's holdings of U.S. treasuries dropped by 12.6 billion dollars to 1.1766 trillion dollars in November last year. China remained the largest holder of U.S. treasuries.
Japan, the second largest holder of U.S. treasuries, also cut its holdings by 9.9 billion dollars to 1.0841 trillion dollars in the month. Japan has cut its treasuries holdings for four consecutive months.
By the end of November 2017, overall foreign holdings of U.S. Treasury securities slightly dropped to 6.3431 trillion dollars from October's revised 6.3495 trillion dollars.
China's State Administration of Foreign Exchange, the nation's top forex regulator, recently dismissed a foreign media report that China was considering slowing down or even halting its purchase of U.S. securities.
China's forex reserves have been invested in a diverse and decentralized manner to keep assets safe and ensure they grow in value steadily, said the forex regulator in a statement.
Like other investment moves, the purchase of U.S. treasuries is market-based behavior and is subject to professional management based on market conditions and investment targets, said the statement.
China's forex reserves rose for 11 months running to 3.14 trillion dollars at the end of December last year, as the economy got on a firmer footing and the government stepped up regulation of illegal capital transfers and overseas investment.
Given the increasing stability and resilience of the economy, as well as further reform in the financial markets, China will maintain balanced and stable forex reserves levels in 2018, said the forex regulator.
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