Video - China Financial News

China's Holdings Of U.S. Debt Revised Up To $1.16 Trillion

The number is $268 billion higher than Treasury's estimate two weeks ago. This revision should not be a surprise to Bail readers, as we reported the rumors last month that have now proven to be true.

Here are the new numbers from the official source:

-- (Reuters) - The U.S. government owes nearly a third more money to China than previously thought, the Treasury Department said on Monday as it revised Beijing's December holdings of U.S. Treasury debt sharply higher to $1.160 trillion.

The $268.4 billion increase over figures reported on February 15 was contained in a survey of foreign portfolio holdings of U.S. securities that provided fresh evidence that China has been buying Treasuries through broker-dealers in Britain.

The Treasury report showed that UK December Treasuries holdings were revised downward to $272.1 billion from a previously reported $541.3 billion -- a nearly corresponding drop of $269.2 billion.

"This provides the most substantive evidence to what has been previously suspected -- that China has been increasingly transacting through the U.K.," said Alan Ruskin, global had of G10 foreign exchange strategy at Deutsche Bank in New York.

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