Note that Russia has also been minimizing US Treasury holdings.
‘China’s holdings of U.S. Treasuries fell to a six-month low in July, just as a trade war between the world’s two largest economies began heating up.
China’s ownership of U.S. bonds, bills and notes slipped to $1.17 trillion, the lowest level since January and down from $1.18 trillion in June, according to data released by the Treasury Department on Tuesday. Japan, the largest foreign investor in Treasuries after China, increased its holdings, as did Saudi Arabia, Taiwan, Singapore and France.’