China increases US treasuries holdings in October

WASHINGTON - China's holdings of US Treasury securities increased in October after a drop in September, the latest data from the US Treasury Department showed on Friday.

China increased its US treasuries holdings by $8.4 billion in October, after cutting $19.7 billion in September. By the end of October, China held $1.1892 trillion of US treasuries and remained the largest holder of the securities.

Japan, the second largest holder of US treasuries, cut its holdings by $2.1 billion to $1.0939 trillion in October.

By the end of October, overall foreign holdings of US Treasury securities rose to $6.3494 trillion from September's $6.323 trillion.

China's forex reserves rose for the 10th month in a row to $3.1193 trillion by the end of November. China's forex regulator, the State Administration of Foreign Exchange, attributed the stabilized forex reserves to the country's steady economic growth.

China's economy expanded 6.9 percent year-on-year in the first three quarters, above the government target of 6.5 percent for 2017.