China's US Treasury Holdings hit record $1.3 trillion | economy in china | Scoop.it

Chinese held US federal debt has reached a record $1.3 trillion. In May 2013 China bought $25.2 billion in US Treasury notes and bonds, according to Xinhua News Agency.

 

“US bonds remain one of the most attractive financial instruments in terms of safety. Recovery of the US economy strengthens the dollar, which is also a positive factor,” Chinese experts are quoted by the Chinese News Agency.

 

China’s economy has been developing rapidly in recent years, with its strong export business which resulted in large trade surpluses.

 

In September 2008 China became the biggest foreign creditor of the United States, surpassing Japan. ...


Via Hal