The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
China’s holdings of US Treasuries rose in October as the world’s second-biggest economy rebuilds its currency reserves.
China’s holdings of US bonds, notes and bills increased by $8.4 billion to $1.19 trillion, according to Treasury Department data released in Washington. China remains the biggest foreign holder of US Treasuries, ahead of Japan, which owned $1.09 trillion, down by $2.1 billion from September. That was the third straight month of declines.
The two countries account for more than a third of all foreign ownership of Treasuries, which gained by $26.4 billion to a record $6.35 trillion in October, the figures showed.
China’s foreign-exchange reserves rose for a 10 month to $3.12 trillion in November. The country’s capital outflows have eased amid tighter controls, helping steady the currency.
The yuan has gained about 5 percent against the greenback this year, rebounding from a loss of some 6.5 percent in 2016. The Treasury report showed a net inflow of long-term securities of $23.2 billion after $80.9 billion in September. It showed a total cross-border inflow of $151.2 billion following outflows of $42.6 billion earlier.