海外投资者连续两个月卖出美债，中国持仓跌破7000亿美元

Core Viewpoint - The latest TIC report from the U.S. Treasury indicates a slight decline in U.S. Treasury holdings by major foreign investors, with Japan continuing to increase its holdings while China has reduced its stake significantly [1][3]. Group 1: U.S. Treasury Holdings - As of October 2025, the total U.S. Treasury holdings by major foreign investors decreased by $5.8 billion to $9.24 trillion, marking a slight decline for two consecutive months from a historical high [1]. - Japan has increased its U.S. Treasury holdings for ten consecutive months, reaching $1.20 trillion, a 13% increase from the end of the previous year, with an increase of $10.7 billion in October alone [2][3]. - The U.K. saw an increase of $13.2 billion in its U.S. Treasury holdings in October, bringing its total to $877.9 billion, which is a $15.51 billion increase since the beginning of the year [3]. Group 2: China's Treasury Holdings - China has net sold $11.8 billion in U.S. Treasuries in October, reducing its holdings to $688.7 billion, marking a continued decrease for two months [1][3]. - Since reaching a peak of over $1.3 trillion in 2013, China has been gradually reducing its U.S. Treasury holdings to diversify its foreign exchange reserves [3]. Group 3: Other Countries' Holdings - Canada net sold $56.7 billion in U.S. Treasuries in October, dropping its ranking to fourth place behind Belgium, which has increased its holdings to $468.4 billion [3]. - Norway and India also reduced their U.S. Treasury holdings in October, with net sales of $22.2 billion and $12 billion, respectively, with India having decreased its holdings for five consecutive months [3]. - France, Singapore, and Hong Kong chose to increase their U.S. Treasury holdings by over $10 billion in October, with net purchases of $13.8 billion each [3].