China Keeps Reducing Its U.S. Treasury Holdings

At the end of June 2026, China held $633.4 billion in U.S. Treasuries, down $25.9 billion from May and the lowest level since September 2008.

For comparison, China’s holdings peaked at $1.317 trillion in November 2013. Since then, its exposure has fallen by roughly 52%.

This is not a one-time selloff, but a long-term trend of gradually reducing exposure to U.S. debt and diversifying reserves, including toward gold.

China nevertheless remains the third-largest foreign holder of U.S. Treasuries, behind Japan and the United Kingdom.