China has been approved to buy Treasurys directly from the US government rather than through Wall Street, the first country ever to be allowed to do so, Reuters reported. The People’s Bank of China (PBoC), China’s central bank, has a direct computer link to the US Treasury Department’s auction system that it first used to purchase Treasurys in June 2011, according to documents viewed by Reuters. Other central banks, such as Bank of Japan, must go to Wall Street firms that bid on the bills on their behalf. PBoC still must sell through the same market as all other buyers. The change was not announced publically. “Direct bidding is open to a wide range of investors, but as a matter of general policy we do not comment on individual bidders,” said Matt Anderson, a spokesman for the Treasury Department. China is the largest purchaser of US debt, holding US$1.17 trillion in Treasurys.