{"id":285133,"date":"2011-03-01T04:01:49","date_gmt":"2011-03-01T04:01:49","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/01\/chinas-us-debt-holdings-jump-30\/"},"modified":"2011-03-01T04:01:49","modified_gmt":"2011-03-01T04:01:49","slug":"chinas-us-debt-holdings-jump-30","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/01\/chinas-us-debt-holdings-jump-30\/","title":{"rendered":"China’s US debt holdings jump 30%"},"content":{"rendered":"

\n \t\t
\n 28 February 2011<\/span>
\nLast updated at <\/span>23:01 ET<\/span>
\n<\/span><\/p>\n

The US owes more money to China than it had previously estimated, government figures show. <\/p>\n

According to the Treasury Department’s revised figures<\/a>, Beijing’s total holding of US debt was $1.16 trillion (\u00a3712bn) in December, up $268bn from an initial estimate two weeks ago.<\/p>\n

China is the largest foreign holder of US securities.<\/p>\n

Analysts said the figures may help ease fears about the ability of the US to finance its debt.<\/p>\n

Offshore investment<\/span><\/p>\n

The Treasury Department said it made the changes to its initial estimates after receiving more accurate data.<\/p>\n

In its initial estimates, all purchases made out of a particular country were attributed to that nation, irrespective of where the buyers came from. <\/p>\n

However, the revised data takes into account the origin of the buyers, as opposed to the location where the purchases were made. <\/p>\n

\n\tContinue reading the main story<\/a>\t<\/p>\n

\u201cStart Quote<\/span><\/h2>\n
\n

On the downside is the perception that the US is more beholden to the Chinese\u201d<\/p>\n<\/blockquote>\n

End Quote<\/span>
\n\tAlan Ruskin<\/span>
\n\tDeutsche Bank<\/span><\/p><\/div>\n

The latest data showed that a lot of Chinese investors were routing their purchases through the UK, a trend that analysts had previously thought was happening but had difficulty confirming. <\/p>\n

“This provides the most substantive evidence to what has been previously suspected…that China has been increasingly transacting through the UK,” said Alan Ruskin of Deutsche Bank.<\/p>\n

“It does suggest that there’s more commitment on the part of China to finance the US current account deficit.”<\/p>\n

However, he added that “on the downside is the perception that the US is more beholden to the Chinese”. <\/p>\n

The UK cut its Treasury holdings figures by $269bn in December, in line with the US findings.<\/p>\n<\/p><\/div>\n<\/p>\n

Read more:
\nChina’s US debt holdings jump 30%<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

28 February 2011 Last updated at 23:01 ET The US owes more money to China than it had previously estimated, government figures show. According to the Treasury Department’s revised figures , Beijing’s total holding of US debt was $1.16 trillion (\u00a3712bn) in December, up $268bn from an initial estimate two weeks ago. China is the largest foreign holder of US securities. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-285133","post","type-post","status-publish","format-standard"],"yoast_head":"\nChina's US debt holdings jump 30% - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/03\/01\/chinas-us-debt-holdings-jump-30\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"China's US debt holdings jump 30% - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"28 February 2011 Last updated at 23:01 ET The US owes more money to China than it had previously estimated, government figures show. 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