Group 1 - China has been reducing its holdings of US Treasury bonds, selling $900 million in May, leaving a total of approximately $750 billion, the lowest in 16 years [1] - China's gold reserves have increased to over 2,300 tons, with consistent purchases since November of last year [1][3] - The US national debt has reached $36 trillion, with annual interest payments amounting to $950 billion, raising concerns about future repayment capabilities [1][4] Group 2 - Other countries, including Brazil and Saudi Arabia, are also reducing their US Treasury bond holdings, indicating a broader trend of decreasing reliance on the US dollar [1][3] - The geopolitical situation, particularly tensions in Taiwan and the Korean Peninsula, is influencing China's financial strategy, prompting a diversification of investments [1][4] - China aims to maintain a balance in its investments to avoid destabilizing the market while preparing for potential economic sanctions from the US [3][8] Group 3 - The strategy of reducing US Treasury bonds has been ongoing since 2022, reflecting a long-term approach to financial security [4][6] - The shift in investment strategy is seen as a way to mitigate risks associated with US debt and to enhance negotiation leverage [3][4] - The overall impact of these adjustments could affect ordinary citizens, particularly in terms of foreign exchange reserves and international travel [6][8]

Core Viewpoint - The company has significantly reduced its holdings of U.S. Treasury bonds, reaching the lowest level in 16 years and now ranking third globally behind Japan and the UK [1][2]. Group 1: Current Holdings and Market Dynamics - The current holdings of U.S. Treasury bonds amount to approximately $750 billion after consecutive reductions in March and April [1]. - The liquidity of the bonds held is lower compared to short-term bonds, making it impractical to liquidate the entire position at once without causing market disruption [1]. - A large-scale sell-off would likely lead to a rapid decline in bond prices, resulting in a loss of wealth for the company [1]. Group 2: Strategic Considerations - Maintaining a position in U.S. Treasury bonds serves as a strategic leverage in international negotiations, particularly in response to U.S. policies such as tariffs [2]. - The company's holdings represent only 2% of the total U.S. Treasury market, indicating that a complete liquidation would have minimal sustained impact [2]. - The upcoming two years will see a significant amount of U.S. debt maturing, and selling bonds now could adversely affect the interest rates on new debt issuance [2]. - A gradual and strategic reduction of holdings is suggested as a more beneficial approach, aligning with the company's long-term interests [2].

中国4月份减持美债 英国、日本增持 金十数据6月19日讯，美国财政部数据显示，中国在四月份持有的美国国债为7570亿美元，较三月份的 7650亿美元有所减少；英国持有量为8080亿美元，较三月份的7790亿美元有所增加；日本持有量为 1.135万亿美元，3月份为1.131万亿美元。 ...