As of December 2024, Japan held United States treasury securities totaling about 1.06 trillion U.S. dollars. Foreign holders of United States treasury debt According to the Federal Reserve and U.S. Department of the Treasury, foreign countries held a total of 8.5 trillion U.S. dollars in U.S. treasury securities as of December 2024. Of the total held by foreign countries, Japan and Mainland China held the greatest portions, with China holding 759 billion U.S. dollars in U.S. securities. The U.S. public debt In 2023, the United States had a total public national debt of 33.2 trillion U.S. dollars, an amount that has been rising steadily, particularly since 2008. In 2023, the total interest expense on debt held by the public of the United States reached 678 billion U.S. dollars, while 197 billion U.S. dollars in interest expense were intra governmental debt holdings. Total outlays of the U.S. government were 6.1 trillion U.S. dollars in 2023. By 2029, spending is projected to reach 8.3 trillion U.S. dollars.

Holdings of US Treasury Securities data was reported at 784.300 USD bn in Feb 2025. This records an increase from the previous number of 760.802 USD bn for Jan 2025. Holdings of US Treasury Securities data is updated monthly, averaging 937.400 USD bn from Mar 2000 (Median) to Feb 2025, with 300 observations. The data reached an all-time high of 1,316.700 USD bn in Nov 2013 and a record low of 58.900 USD bn in Nov 2000. Holdings of US Treasury Securities data remains active status in CEIC and is reported by U.S. Department of the Treasury. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FF: Holdings of US Treasury Securities.

In 2023, China held **** percent of foreign held U.S. securities. Japan held a further **** percent of foreign held securities. The national debt of the United Stated can be found here.

The value of U.S. Treasury securities held by residents of Russia amounted to ** million U.S. dollars in March 2025, marking a stark contrast to ***** billion U.S. dollars held in January 2020. The lowest over the period under consideration was recorded in November 2023 at ** million U.S. dollars. Furthermore, in March 2020, the figure plummeted to **** billion U.S. dollars, down from **** billion U.S. dollars one month prior. Russia’s holdings of U.S. treasury securities have decreased since 2014 following the Western sanctions over the annexation of Crimea and have further dropped in 2022 after more restrictions were imposed over the war in Ukraine. What are U.S. treasury holdings? U.S. treasury holdings are government debt instruments that contribute to the funding of various government projects in the country. The U.S. Department of Treasury allows individuals and organizations to invest in treasury notes, bills, and bonds, which are the main three types of securities. Just under half of the outstanding ** trillion U.S. dollars as of May 2024 were in the form of treasury notes. The notes have varying maturities and coupon payment frequencies, which are different from the maturity periods of treasury bills and bonds. Main foreign holders of U.S. treasury securities Foreign holdings of U.S. treasury debt amounted to ***** trillion U.S. dollars as of January 2024. Japan and China held the largest portions, with China possessing ***** billion U.S. dollars in U.S. securities. Additionally, other significant foreign holders included oil exporting countries and Caribbean banking centers.

Graph and download economic data for Federal Debt Held by Foreign and International Investors (FDHBFIN) from Q1 1970 to Q1 2025 about foreign, debt, federal, and USA.

United States Treasury Securities: Foreign Holder: China data was reported at 1,138.900 USD bn in Oct 2018. This records a decrease from the previous number of 1,151.400 USD bn for Sep 2018. United States Treasury Securities: Foreign Holder: China data is updated monthly, averaging 872.600 USD bn from Mar 2000 (Median) to Oct 2018, with 224 observations. The data reached an all-time high of 1,316.700 USD bn in Nov 2013 and a record low of 58.900 USD bn in Nov 2000. United States Treasury Securities: Foreign Holder: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s United States – Table US.Z050: Major Foreign Holders of US Treasury Securities.

United States USF: Long Term: Corporate Debt: China data was reported at 16.288 USD bn in 2017. This records an increase from the previous number of 15.898 USD bn for 2016. United States USF: Long Term: Corporate Debt: China data is updated yearly, averaging 18.337 USD bn from Jun 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 58.494 USD bn in 2006 and a record low of 10.898 USD bn in 2002. United States USF: Long Term: Corporate Debt: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z047: Foreign Residents' Portfolio Holdings of U.S. Securities.

United States FSU: Debt: Long Term: Straight Debt: China data was reported at 2.977 USD bn in 2017. This records an increase from the previous number of 1.620 USD bn for 2016. United States FSU: Debt: Long Term: Straight Debt: China data is updated yearly, averaging 1.372 USD bn from Dec 2003 (Median) to 2017, with 15 observations. The data reached an all-time high of 2.977 USD bn in 2017 and a record low of 526.000 USD mn in 2009. United States FSU: Debt: Long Term: Straight Debt: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z044: U.S. Residents' Portfolio Holdings of Foreign Securities.

United States FSU: Debt: Long Term: Zero Coupon: China data was reported at 3.000 USD mn in 2017. This records an increase from the previous number of 0.000 USD mn for 2016. United States FSU: Debt: Long Term: Zero Coupon: China data is updated yearly, averaging 0.000 USD mn from Dec 2003 (Median) to 2017, with 11 observations. The data reached an all-time high of 3.000 USD mn in 2017 and a record low of 0.000 USD mn in 2016. United States FSU: Debt: Long Term: Zero Coupon: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z044: U.S. Residents' Portfolio Holdings of Foreign Securities.

In March 2025, the average yield on ten-year government bonds in the United States was 4.27 percent. This was the highest of the selected developed economies considered in this statistic. Except Germany, Luxembourg, and Japan, all countries had a yield higher than three on their government bonds. Bonds and yields – additional information The bond yield indicates the level of return that the investor can expect from a given type of bond. The government of Italy, for instance, offered the investors 3.9 percent yield on ten-year government bonds for borrowing their money in March 2025. In the United States, government needs are also financed by selling various debt instruments such as Treasury bills, notes, bonds and savings bonds to investors. The largest holders of U.S. debt are the Federal Reserve and Government accounts in the United States. The major foreign holders of the United States treasury securities are Japan, Mainland China, and the United Kingdom.

United States FSU: Debt: Long Term: Asset Backed: China data was reported at 52.000 USD mn in 2016. This stayed constant from the previous number of 52.000 USD mn for 2015. United States FSU: Debt: Long Term: Asset Backed: China data is updated yearly, averaging 8.000 USD mn from Dec 2003 (Median) to 2016, with 13 observations. The data reached an all-time high of 52.000 USD mn in 2016 and a record low of 0.000 USD mn in 2012. United States FSU: Debt: Long Term: Asset Backed: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z044: U.S. Residents' Portfolio Holdings of Foreign Securities.

United States FSU: Debt: Short Term: Commercial Paper: China data was reported at 142.000 USD mn in 2016. This records a decrease from the previous number of 609.000 USD mn for 2015. United States FSU: Debt: Short Term: Commercial Paper: China data is updated yearly, averaging 57.500 USD mn from Dec 2003 (Median) to 2016, with 14 observations. The data reached an all-time high of 2.453 USD bn in 2014 and a record low of 0.000 USD mn in 2010. United States FSU: Debt: Short Term: Commercial Paper: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z044: U.S. Residents' Portfolio Holdings of Foreign Securities.

Government bond spreads as of April 15, 2025, varied widely among the largest economies when compared to German Bunds and U.S. Treasury notes. The United Kingdom's bond spread was the higest against both, with ***** basis points (bps) over Germany and **** bps over the U.S. In contrast, China and Japan display negative spreads, with Japan having the lowest spread at ****** bps against U.S. Treasuries. Italy, the United Kingdom, and Canada showed moderate spreads. Positive bond spreads indicate that a country’s government bonds have higher yields compared to the benchmark bonds - in this case, the German Bunds and U.S. Treasury notes. Higher spreads often signal perceived higher risk or economic uncertainty, as investors demand greater returns for holding these bonds. expectations. Conversely, negative spreads mean that these bonds offer lower yields than the benchmark. Negative spreads often indicate strong investor confidence, safe-haven status, or lower inflation expectations, as investors are willing to accept lower returns for the perceived stability of these bonds.

The yield on China 10Y Bond Yield rose to 1.66% on July 11, 2025, marking a 0.01 percentage point increase from the previous session. Over the past month, the yield has edged up by 0 points, though it remains 0.60 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. China 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

United States FSU: Debt: Short Term: Negotiable CDs: China data was reported at 382.000 USD mn in 2016. This records an increase from the previous number of 189.000 USD mn for 2015. United States FSU: Debt: Short Term: Negotiable CDs: China data is updated yearly, averaging 24.000 USD mn from Dec 2003 (Median) to 2016, with 14 observations. The data reached an all-time high of 670.000 USD mn in 2014 and a record low of 0.000 USD mn in 2005. United States FSU: Debt: Short Term: Negotiable CDs: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z044: U.S. Residents' Portfolio Holdings of Foreign Securities.

Key information about China External Debt

• China External Debt reached 2,516.9 USD bn in Sep 2024, compared with 2,545.3 USD bn in the previous quarter.
• China External Debt: USD mn data is updated quarterly, available from Jun 2003 to Sep 2024.
• The data reached an all-time high of 2,746.6 USD bn in Dec 2021 and a record low of 182.6 USD bn in Jun 2003.

• In the latest reports of China, Current Account recorded a surplus of 147.6 USD bn in Sep 2024.
• Foreign Direct Investment (FDI) fell by 8.3 USD bn in Sep 2024.
• China Direct Investment Abroad expanded by 34.5 USD bn in Sep 2024.
• Its Foreign Portfolio Investment increased by 24.0 USD bn in Sep 2024.
• The country's Nominal GDP was reported at 4,166.8 USD bn in Mar 2023.

As of December 2022, the value of total assets of the Chinese real estate developer Evergrande dropped to around **** trillion yuan. Between 2015 and 2020, the enterprise’s assets grew significantly, almost tripling within a five year period.

Missed bond payments

In late September 2021, Evergrande missed a payment of a U.S. dollar-denominated offshore bond which put the spotlight on the company’s dire financial situation. Evergrande Group has amassed more than *** trillion yuan of debt which was around two percent of China’s GDP. Real estate has been an important sector of the county’s economy and a systemic crisis would seriously impact economic development.

Ripple effect

The news of the financial predicament that one of China’s largest property developers has found itself in sent ripples through the real estate industry. For many years, the property sector was booming and the demand for housing was high. This allowed property developers to get away with speculative investments. Since the sector constitutes a significant share of the economy, the Chinese government implemented regulations to put a limit on enterprises’ reliance on debt financing.

The yield on China 30 Year Bond Yield rose to 1.87% on July 10, 2025, marking a 0.01 percentage point increase from the previous session. Over the past month, the yield has edged up by 0.02 points, though it remains 0.64 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. This dataset includes a chart with historical data for China 30Y.

The China mutual funds market, exhibiting a robust Compound Annual Growth Rate (CAGR) exceeding 3.20%, presents a compelling investment opportunity. The market's expansion is driven by several factors, including a growing middle class with increasing disposable income seeking higher investment returns, supportive government policies promoting financial inclusion and diversification, and the maturation of the Chinese capital markets. Significant trends shaping the market include the rising popularity of digital investment platforms, increasing demand for diversified investment products (including multi-asset and thematic funds), and the ongoing development of China's onshore bond market, which fuels growth in the debt fund segment. However, market volatility stemming from geopolitical uncertainties and regulatory changes poses a restraint, along with potential challenges related to investor education and risk management awareness. The market is segmented by fund type (equity, debt, multi-asset, money market) and investor type (households, monetary financial institutions, general government, non-financial corporations, insurers & pension funds). Equity funds, driven by the growth of the Chinese stock market, and debt funds benefiting from the expansion of the bond market, are expected to be the leading segments. Key players like BlackRock, abrdn, and Matthews Asia are actively vying for market share, highlighting the increasing competition within this dynamic and expansive sector. The projected market size for 2025, based on the provided CAGR and assuming a logical extrapolation from available data, positions the China mutual funds market for substantial growth in the forecast period (2025-2033). While specific figures are not provided, a conservative estimate considering market dynamics and the CAGR suggests significant expansion across all segments. The continued influx of domestic and foreign investment, coupled with a rising investor base and product innovation, reinforces the positive outlook. However, successful navigation of regulatory hurdles and strategic responses to geopolitical shifts will be critical factors influencing the trajectory of market growth. This comprehensive report provides a detailed analysis of the China mutual funds market, covering the period from 2019 to 2033. It delves into market size, growth drivers, challenges, and future trends, offering valuable insights for investors, fund managers, and industry stakeholders. The report utilizes data from the historical period (2019-2024), with the base year set at 2025 and the forecast period spanning 2025-2033. Key market segments analyzed include Equity, Debt, Multi-Asset, and Money Market funds, along with investor types such as Households, Monetary Financial Institutions, General Government, Non-Financial Corporations, and Insurers & Pension Funds. The report leverages high-search-volume keywords such as China mutual funds market size, China mutual fund industry, China investment funds, and China's asset management industry to maximize online visibility. Disclaimer: Due to the dynamic nature of the financial market, predictions and forecasts are subject to change. This report offers an estimate based on currently available data and expert analysis. Recent developments include: Sep 2021: Neuberger Berman Group, an American asset manager, is the third foreign company to gain access to China's growing mutual fund market after the country's securities regulator granted its application to operate a wholly-owned mutual fund business on the Chinese mainland,, April 2021: The SME Board was merged with SZSE's Main Board. The merger is an important measure adopted by SZSE to deepen the China'scapital market reform in all respects. It is of great significance for refining market functions, strengthening the foundation of the market, improving market activity and resilience, facilitating the market-oriented allocation of capital elements, and better serving national strategic development.. Notable trends are: Growth of Stock or Equity Funds is Driving the Market.

China External Debt: NFL: Net Financial Flows: The International Bank for Reconstuction and Development (IBRD) data was reported at -237.055 USD mn in 2022. This records a decrease from the previous number of 720.985 USD mn for 2021. China External Debt: NFL: Net Financial Flows: The International Bank for Reconstuction and Development (IBRD) data is updated yearly, averaging 341.115 USD mn from Dec 1983 (Median) to 2022, with 40 observations. The data reached an all-time high of 1.211 USD bn in 1997 and a record low of -837.387 USD mn in 2003. China External Debt: NFL: Net Financial Flows: The International Bank for Reconstuction and Development (IBRD) data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s China – Table CN.World Bank.IDS: External Debt: Net Flows and Net Transfers: Annual. Net financial flows received by the borrower during the year are disbursements of loans and credits less repayments of principal. IBRD is the International Bank for Reconstruction and Development, the founding and largest member of the World Bank Group. Data are in current U.S. dollars.