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China holdings of US Treasurys reach five-month high in March

China's holdings of U.S. bonds, bills and notes rose to a five-month high in March, as the total increased by $11 billion to $1.188 trillion, data from the U.S. Treasury Department showed May 15.

China was the top foreign holder of U.S. Treasury securities in March, followed by Japan, whose holdings slipped by $16 billion to $1.044 trillion.

During the first quarter, the U.S. borrowed a record net $488 billion. The Treasury plans to sell $73 billion in long-term debt in the second quarter, Bloomberg News reported May 16.

Treasury Secretary Steven Mnuchin told Bloomberg TV in early May that the U.S. Treasury market is robust.

"The U.S. Treasury market is the most robust and liquid in the world," Mnuchin said. "There is a lot of supply but I think the market can easily handle it."