最新披露：中国大规模减持美债 一个月抛了超1800亿元！央行已连续10个月买入黄金

Group 1 - The core point of the news is that China has significantly reduced its holdings of U.S. Treasury bonds, with a notable decrease of $25.7 billion in July 2025, bringing its total holdings to $730.7 billion, the lowest level since 2009 [1][2] - This reduction in U.S. Treasury holdings marks the fourth time China has decreased its investments in U.S. debt since the beginning of 2025, continuing a trend that has persisted for several years [2] - The decrease in U.S. Treasury holdings is attributed to various factors, including concerns over U.S. fiscal policies and the weakening of the dollar's credibility, particularly in light of the Trump administration's tax and spending policies [2][3] Group 2 - In contrast to its reduction in U.S. Treasury bonds, the People's Bank of China has been increasing its gold reserves for ten consecutive months, with a total of 7.402 million ounces as of the end of August 2025 [5][6] - The continuous increase in gold reserves is seen as a strategic move to hedge against the risks associated with a single currency, particularly the U.S. dollar, and to enhance the credibility of the Chinese yuan in international markets [5][6] - China's gold reserves still represent a smaller proportion of its total international reserves compared to developed economies, indicating room for further increases in gold holdings [6]