China raises its US treasuries holding in February

WASHINGTON — China increased its holding of US treasury securities in February after cutting $7.3 billion in the previous month, the latest data from the US Treasury Department showed on Monday.

China increased its treasuries holding by $8.6 billion in February, with the total holding up to $1.0597 trillion.

China's foreign exchange reserves climbed to $3.0091 trillion at the end of March, according to statistics from the People's Bank of China. This was the first time the reserves expanded for two consecutive months since April 2016.

Concerns about capital outflows from China have receded lately, with the Chinese economy on a firmer footing.

Japan, which overtakes China as the largest holder of US treasuries in last October, also increased its US treasuries holding by $12.6 billion to $1.1151 trillion in February.

By the end of February, overall foreign holdings of US Treasury securities increased to $6.012 trillion from January' s $5.953 trillion.