(Yicai Global) Oct. 18 -- China continued to supersize its collection of US treasury bonds in August to become America’s biggest creditor country, data outed by the US Treasury Department show.
China added USD34.5 billion in August to its strongbox of US treasuries for the seventh straight month, when China-held Uncle Sam IOUs rose up to USD1.2 trillion.
Already by June, China had held more than Japan, again becoming the US’ biggest creditor nation, as Japan ditched USD11.4 billion in US IOUs, lowering its holding to USD1.102 trillion. By August’s end, the major foreign creditor countries held USD6.27 trillion over July’s USD6.25. The aggregate held by China and Japan made up one-third of this.
China’s economy and finances have attained sound and stable momentum, thus providing solid guarantees for the steady and continuous replenishment of its foreign exchange reserves, said an official with the State Administration of Foreign Exchange (SAFE). China’s economic growth reached 6.9 percent during the first half, and hopefully will realize 6.5 percent for the whole year, said Zhou Xiaochuan, president of the People’s Bank of China (PBOC).