China reduced its holdings of US Treasuries in October to their lowest level in 17 years, the South China Morning Post reported Friday.
The country’s stockpile fell to $688.7 billion in October from $700.5 billion in September, according to US Treasury Department data released Thursday.
Data from Chinese financial firm Wind showed that October’s level was the lowest since November 2008 and marked a decline of more than 47% from the roughly $1.32 trillion peak recorded in November 2013.
China has continued the reduction in its US Treasury holdings that began during US President Donald Trump’s first term, dropping to third place among foreign holders in March, behind Japan and the UK.
This year, the trend has persisted amid ongoing concerns over the sustainability of US debt, particularly following this summer’s One Big Beautiful Bill and questions surrounding the Federal Reserve’s independence as the White House presses for lower interest rates.
In November, Beijing extended its gold-buying streak to a 13th consecutive month while further trimming purchases of US Treasury bonds. Official data showed reserves increased by 30,000 ounces, bringing total holdings to 74.12 million ounces, valued at $310.6 billion.
Overall foreign holdings of US Treasury bonds slipped slightly from $9.248 trillion in September to $9.243 trillion in October, but remained above $9 trillion for the eighth straight month.
Japan, the largest foreign holder, increased its holdings from $1.189 trillion to $1.2 trillion in October. Britain, the second-largest holder, also raised its holdings, from $864.7 billion in September to $877.9 billion in October.
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