China’s Holdings of US Debt Fell Below $1 Trillion for the First Time in 12 Years

A bank clerk counts U.S. dollars and Chinese yuan at a bank in Hefei, Anhui Province, China on April 13, 2010. STR/AFP/Getty Images

China’s holdings of U.S. Treasury securities fell to the lowest level since May 2010, following a sixth successive month of selling in May, a Treasury International Capital (TIC) report from the U.S. Treasury Department showed.

China sold $23 billion of U.S. Treasury securities in May, lowering its total ownership to $980.8 billion, according to the latest monthly data released on July 18.