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China in September became the largest foreign holder of US treasuries ahead of Japan, the US Treasury Department reported in figures released on Tuesday.
China held $585 billion worth of treasuries, while Japan held $573.2 billion, according to Treasury figures. In August, Japan held $586 billion worth of treasuries, while China owned $541.4 billion.
The United States, with the world’s largest economy, has long relied on foreign purchases of government-issued bonds to finance its huge debt. The third largest foreign holder is Britain, with $338.4 billion. (Economic Times)