China increases holdings of US Treasuries despite diversification trend

China modestly increased its holdings of US Treasuries in May after they hit an 18-year low in April, though the move did little to alter a broader diversification trend that has seen Beijing steadily reduce its exposure to American government debt. China’s US Treasury holdings rose to US$659.3 billion in May from US$651.1 billion in April. The amount reported in April was the lowest since September 2008, based on figures compiled by financial data provider Wind. Meanwhile, overall foreign...