China continues to cut its holding of U.S. Treasury securities in November last year, the latest data from the U.S. Treasury Department showed on Wednesday.
China shed its treasuries holding by 66.4 billion U.S. dollars in November, with the total holding down to 1.0493 trillion U.S. dollars. It has cut its treasuries holding for six consecutive months.
The Chinese renminbi (RMB), or the yuan, has seen sharp falls since October last year, stoking market concerns. But economists ruled out the possibility of persistent slips in 2017, and believe China is capable of handling the impact, in view of China's relatively large current account surplus and high economic growth.
Japan, which overtakes China as the largest holder of U.S. treasuries in October, also cut its holding by 23.3 billion dollars to 1.1086 trillion dollars in November.
By the end of November, overall foreign holdings of U.S. Treasury securities dropped to 5.9443 trillion U.S. dollars from October's 6.0404 trillion dollars.