China owned US$1.16 trillion worth of US Treasuries at the end of 2010, nearly US$270 billion more than previously estimated, according to revised US Treasury data, the Financial Times reported. A prior estimate, published only two weeks ago, stated that China owned US$892 billion of Treasuries. The new figures released on Monday show that fears of China reducing its US dollar holdings may have been overstated. Japan remained the second largest holder of US government debt, with US$882 billion against a previous figure of US$884 billion. Despite the revised numbers, China still owns slightly less US government debt than the Fed itself. The US central bank currently holds US$1.2 trillion in Treasuries and is expected to own US$1.5 trillion by the end of June.
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