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皇冠体育app remains largest holder of US Treasury securities: report
(Xinhua)
Updated: 2010-03-01 11:02
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WASHINGTON: 皇冠体育app remains the largest foreign holder of US Treasury securities at the end of December, the US media reported on Saturday.
The report quoted the new government data as saying that 皇冠体育app held $894.8 billion in Treasury securities at the end of December, more than $755 billion that had been previously estimated.
But the new report also showed 皇冠体育app trimmed its holdings of US debt by $34.2 billion in December.
The US Treasury reported on February 16 that Japan surpassed 皇冠体育app as the largest holder of US Treasury securities in December. But the new estimate said Japan, now back in second place, held $765.7 billion in December.
Japan had been the largest holder of US Treasury securities until 皇冠体育app gained that distinction in 2008.
"Purchase of Treasuries by 皇冠体育app would reflect only purchases by an entity in 皇冠体育app from an entity based in the US," Stone & McCarthy Research Associates said in a recent client note.
"The Data would not pick up purchases done on behalf of Chinese investors by dealers in the UK or Hong Kong, for example, nor would it pick up purchases of Treasuries by investors in 皇冠体育app from investors based outside of the US," it added.
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Last week, when responding to questions on 皇冠体育app's sale of US Treasury securities in December, 皇冠体育app's Foreign Ministry spokesman Qin Gang said the issue should be viewed from two perspectives.
He said on the one hand, 皇冠体育app always followed the principle of "ensuring safety, liquidity and good value" in managing its foreign exchange reserve. And when it came to how much and when 皇冠体育app buys the bonds, the decision should be made taking into account the market and 皇冠体育app's need, so as to realize rational deployment of 皇冠体育app's foreign exchange property, he said.
And on the other hand, the United States should take concrete steps to beef up the international market's confidence in the US dollar, Qin said.
The way to view the issue was similar to doing business, he said.
