China raises hold­ings of US trea­suries again

Muscat Daily - - BUSINESS -

China raised its hold­ings of US trea­suries for a fourth straight month, a sign the na­tion is re­build­ing its for­eign-cur­rency re­serves as the yuan sta­bilises.

China, the sec­ond-largest holder of trea­suries, held US$1.1tn in May, up US$10bn from a month ear­lier, ac­cord­ing to US Trea­sury Depart­ment data re­leased on Tues­day in Wash­ing­ton. Ja­pan, the big­gest holder, owned US$1.11tn, up slightly from its to­tal in April.

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