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Tuesday, April 18, 2017, 09:52

China raises its US treasuries holding in February

By Xinhua

China raises its US treasuries holding in February
This picture taken on Sept24, 2013 shows US dollar notes being counted next to stacks of Chinese 100 yuan (RMB) bank notes at a bank in Huaibei, in eastern China's Anhui province. (STR / AFP)

WASHINGTON - China increased its holding of US Treasury securities in February after cutting US$7.3 billion in the previous month, the latest data from the US Treasury Department showed on Monday.

China's foreign exchange reserves climbed to US$3.0091 trillion at the end of March

People's Bank of China
China increased its treasuries holding by US$8.6 billion in February, with the total holding up to US$1.0597 trillion.

China's foreign exchange reserves climbed to US$3.0091 trillion at the end of March, according to statistics from the People's Bank of China. This was the first time the reserves expanded for two consecutive months since April 2016.

Concerns about capital outflows from China have receded lately, with the Chinese economy on a firmer footing.

READ MORE: Yuan to become safe-haven currency: PBoC

Japan, which overtakes China as the largest holder of US treasuries in last October, also increased its US treasuries holding by US$12.6 billion to US$1.1151 trillion in February.

By the end of February, overall foreign holdings of US Treasury securities increased to 6.012 trillion US dollars from January' s US$5.953 trillion.

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