China's holdings of US Treasuries surge

Total portfolio held by Beijing reaches $1.22 trillion in February, up from $1.16 trillion a year earlier

China's holdings of US Treasury securities surged to their highest level in over a year in February, allowing the country to remain the largest holder of US debt while restoring "balance" to its Treasurys portfolio, an analyst said.

China purchased $9.16 billion in long-term securities during the month, raising its total portfolio of Treasuries to $1.22 trillion, from $1.16 trillion a year earlier, according to the Treasury Department's monthly international capital report. Overall global demand for Treasuries rose to $5.66 trillion from $5.11 trillion.