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Cut in holdings of US debt may help diversify China's reserves

By Si Tingting | China Daily | Updated: 2009-08-19 07:53

China drastically cut its holdings of US Treasury debt in June, but its purchase of more long-term securities indicates no significant change in its interest in US government bonds.

The country's holding of US Treasury securities fell to $776.4 billion in June, from a record high of $801.5 billion in May.

Despite the biggest monthly drop since 2000, China still retained its position as the top holder of US treasuries, according to US Treasury data released on Monday.

Cut in holdings of US debt may help diversify China's reserves

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