China remains the biggest foreign buyer of US debt and increased its holdings of US government agency debt and mortgage-backed securities in July, The Wall Street Journal reported, citing data from the US Treasury Department. The purchases broke the previous buyout record of US$16.9 billion in April, and are the latest sign the country hasn’t stepped away from funding the US, analysts said. China was a net buyer of treasury notes and bonds in May and June when many other investors cut back their holdings amid signs that the Federal Reserve could reduce its bond purchases.
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