WASHINGTON - China cuts its holdings of US Treasury securities in November 2017 after adding $8.4 billion in October.

China's holdings of US treasuries dropped by $12.6 billion to $1.1766 trillion in November last year. China remained the largest holder of US treasuries.

Japan, the second largest holder of US treasuries, also cut its holdings by $9.9 billion to $1.0841 trillion in the month. Japan has cut its treasuries holdings for four consecutive months.

By the end of November 2017, overall foreign holdings of US Treasury securities slightly dropped to $6.3431 trillion from October's revised $6.3495 trillion.

China's State Administration of Foreign Exchange, the nation's top forex regulator, recently dismissed a foreign media report that China was considering slowing down or even halting its purchase of US securities.

China's forex reserves have been invested in a diverse and decentralized manner to keep assets safe and ensure they grow in value steadily, said the forex regulator in a statement.

Like other investment moves, the purchase of US treasuries is market-based behavior and is subject to professional management based on market conditions and investment targets, said the statement.

China's forex reserves rose for 11 months running to $3.14 trillion at the end of December last year, as the economy got on a firmer footing and the government stepped up regulation of illegal capital transfers and overseas investment.

Given the increasing stability and resilience of the economy, as well as further reform in the financial markets, China will maintain balanced and stable forex reserves levels in 2018, said the forex regulator.