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BEIJING - China, the top holder of U.S. Treasury bonds, urged the United States Tuesday to adopt "responsible measures" after ratings agency Standard & Poor's cut the outlook on U.S. sovereign debt to negative.
S&P sent stocks plunging worldwide when it slashed its outlook from "stable" to "negative" Monday, pointing to doubts about Washington's ability to tackle looming debt and fiscal deficits - concerns raised by Beijing in the past.
"U.S. Treasury bonds are a reflection of U.S. government credit and are important investment products for domestic and international institutional investors," Foreign Ministry spokesman Hong Lei said in a statement.
"We hope the U.S. government will earnestly adopt responsible policy measures to guarantee the interests of investors," he added.
US Treasury Department says China reduced its holdings by $600 million to $1.15 trillion. Japan, the second largest foreign holder, boosted its holdings by $4.4 billion to $890.3 billion.
Originally posted by Vitchilo
Well well well... China starting to look after their ``investment``...
Beijing has repeatedly warned that loose U.S. monetary policy threatens the dollar, but it has continued to accumulate dollar assets at the same time, adding about $260 billion of Treasury securities last year, according to U.S. data.