一觉醒来，中国减持189亿美债，释放三大信号！

Core Insights - The article discusses the strategic reduction of U.S. Treasury holdings by China, highlighting the shift in global debt ownership dynamics, particularly with Japan and the UK increasing their holdings [1][4][17]. Group 1: Changes in U.S. Treasury Holdings - As of March, Japan increased its U.S. Treasury holdings by $4.9 billion, totaling $1.1308 trillion, making it the largest foreign holder [1][4]. - The UK surpassed China as the second-largest holder of U.S. Treasuries, with holdings rising to $779.3 billion, while China's holdings decreased to $765.4 billion after selling $18.9 billion in long-term Treasuries [1][4][17]. - Overall, foreign investors increased their U.S. Treasury holdings by $233.1 billion in March, reaching $9.05 trillion, indicating strong demand despite China's selling [4]. Group 2: Strategic Reasons for China's Actions - China's reduction in U.S. Treasury holdings is part of a broader strategy to diversify its foreign exchange reserves and reduce reliance on the U.S. dollar, especially in light of U.S. tariffs and geopolitical tensions [8][11][17]. - The share of U.S. Treasuries in China's foreign exchange reserves has decreased from a peak of 45% in 2014 to 23.9% in March 2025, reflecting a shift towards a more diversified asset base [8][11]. - The strategy includes increasing gold reserves, with China adding 182 tons of gold in 2024, resulting in a total of 7,377 million ounces by April 2025, a 41% increase from 2022 [8][11]. Group 3: Market Reactions and Future Implications - The article notes that the reduction in U.S. Treasury holdings by China has positioned it advantageously during market turmoil, such as the sell-off triggered by Trump's tariffs [5][11]. - The U.S. national debt has surpassed $36 trillion, with interest payments consuming 15% of the federal budget, raising concerns about the sustainability of U.S. debt [14][15]. - China's ongoing strategy may involve a gradual reduction of U.S. Treasury holdings by $50-80 billion annually until the holdings drop to 15% of its foreign exchange reserves, indicating a long-term trend towards reducing dependence on U.S. assets [17][18].