View of US Treasury Department building. Photo: public domain

China’s holdings of US debt increased to US$1.15 trillion in June, from US$44.3 billion in May, according to data released by the US Treasury Department on Tuesday. The increase thrust China back into the top spot as the biggest foreign owner of US debt, after Japan took China’s place last October.

Japan’s holdings fell to US$1.09 trillion, down US$20.5 billion from the previous month.

Total ownership of Treasuries increased to US$6.17 trillion, according to the data.