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 marks the fourth time China has decreased its U.S. Treasury holdings in 2025, continuing a trend that began in April 2022 when holdings fell below $1 trillion [2] - The overall trend shows that China has reduced its U.S. Treasury holdings by $173.2 billion in 2022, $50.8 billion in 2023, and $57.3 billion in 2024, indicating a consistent pattern of divestment [2] Group 2 - In contrast to China's actions, Japan and the UK have increased their holdings of U.S. Treasury bonds, highlighting China's unique position in the current market [3] - Analysts attribute China's reduction in U.S. Treasury holdings to concerns over U.S. fiscal policies, including tariffs and the rising national debt, which has reached $37 trillion [3][4] - The Federal Reserve's monetary policy and the potential for a weakened dollar are also cited as factors influencing China's decision to reduce its U.S. Treasury exposure [4] Group 3 - Concurrently, the People's Bank of China has been increasing its gold reserves for ten consecutive months, with a total of 74.02 million ounces as of the end of August 2025, reflecting a strategic shift towards gold as a non-sovereign credit reserve asset [7] - The increase in gold reserves is seen as a way to hedge against the risks associated with a single currency, particularly the dollar, and to enhance the credibility of the Chinese yuan in international markets [7][8] - China's gold reserves currently account for 7.3% of its official international reserve assets, which is significantly lower than the global average of around 15%, indicating room for further increases [7][8]