China’s holdings of US Treasuries declined to the lowest level in more than six years as the world’s second-largest economy uses its currency reserves to support the yuan.
Japan overtook China as the top foreign creditor of the US, as its holdings edged down at a slower pace.
A monthly US Department of the Treasury report showed that China held US$1.12 trillion in US government bonds, notes and bills in October, down US$41.3 billion from the previous month and the lowest investment since July 2010.
Japan’s portfolio decreased for third month, falling by US$4.5 billion to US$1.13 trillion, according to the data.
Collectively, the two nations account for about 37 percent of US foreign debt holdings.
China’s foreign-exchange reserves, the world’s largest stockpile, declined for the fifth straight month last month to US$3.05 trillion — the lowest level since March 2011 — amid support for its sliding currency.
That stockpile has fallen from a record US$4 trillion in June last year.
The report, which also contains data on international capital flows, showed net foreign buying of long-term securities totaling US$9.4 billion in October.
International investors sold US$63.5 billion of US Treasuries in October, while foreigners purchased a net US$4.5 billion of corporate debt, US$20.5 billion of equities and US$32.4 billion of agency debt, the report showed.
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