China, Saudi Arabia Cut US Debt Holdings in Anti-Dollar Push: Treasury Data

China and Saudi Arabia slashed their holdings of U.S. government debt in June, according to new Treasury Department data.

U.S. President Joe Biden and Saudi Crown Prince Mohammed bin Salman (front) arrive for a photo during the Jeddah Security and Development Summit (GCC+3) at a hotel in Saudi Arabia's Red Sea coastal city of Jeddah on July 16, 2022. Mandel Ngan/AFP via Getty Images

China and Saudi Arabia slashed their holdings of U.S. government debt in June, according to new Treasury Department data.

Beijing dumped more than $11 billion in Treasury securities to $835.4 billion, down by 1.3 percent month-over-month and 11 percent year-over-year. This is the lowest total since the middle of 2009.