China’s holdings of US debt larger than reported

WASHINGTON (AFP) – China’s holdings of US bonds reached $1.16 trillion at the end of December, almost $270 billion more than previously estimated, new data showed Monday.

Beijing, which has converted much of a huge trade surplus with the United States over the past two decades into buying up US treasuries and other securities, held 26.1 percent of the total of $4.44 trillion held by foreigners, the Treasury said.

The figures came as the US government recalculated its data on foreign holdings of US securities from June 2010.

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