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 5.33 percent of foreign held U.S. securities. Japan held a further 9.28 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.

The major foreign holders of U.S. Treasury securities are typically countries and entities that invest heavily in U.S. government debt. As of the latest data, here are some of the top foreign holders:

Japan: Historically, Japan has been the largest holder of U.S. Treasury securities. China: China is another major holder, though its holdings have fluctuated due to various economic and political factors. United Kingdom: The UK is a significant investor in U.S. Treasuries, often ranked among the top holders. Ireland: Ireland holds a substantial amount of U.S. Treasury securities. Luxembourg: Luxembourg is also a notable holder of U.S. Treasuries. Switzerland: Swiss investments in U.S. Treasury securities are considerable. Brazil: Brazil is one of the largest holders in Latin America. Belgium: Belgium, often through its financial institutions, holds a significant amount. Taiwan: Taiwan's central bank and other financial institutions invest heavily in U.S. Treasuries. Hong Kong: Hong Kong maintains substantial holdings in U.S. Treasuries. These rankings can change frequently based on economic conditions, currency reserves, and geopolitical factors. For the most up-to-date information, refer to the U.S. Department of the Treasury's "Major Foreign Holders of Treasury Securities" report.

Data about influencing factors of China’s holdings of U.S. Treasury securities

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.

持有美国国债在02-01-2025达784,300.000百万美元，相较于01-01-2025的760,802.000百万美元有所增长。持有美国国债数据按月更新，03-01-2000至02-01-2025期间平均值为937,400.000百万美元，共300份观测结果。该数据的历史最高值出现于11-01-2013，达1,316,700.000百万美元，而历史最低值则出现于11-01-2000，为58,900.000百万美元。CEIC提供的持有美国国债数据处于定期更新的状态，数据来源于美国财政部，数据归类于中国经济数据库的财政 – Table CN.FF: Holdings of US Treasury Securities。

United States USF: Long Term: US Treasury: China data was reported at 1,144.081 USD bn in 2017. This records a decrease from the previous number of 1,238.077 USD bn for 2016. United States USF: Long Term: US Treasury: China data is updated yearly, averaging 932.620 USD bn from Jun 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 1,302.405 USD bn in 2011 and a record low of 95.200 USD bn in 2002. United States USF: Long Term: US Treasury: 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 US Securities by Foreign Holders: China data was reported at 1,540.549 USD bn in 2017. This records a decrease from the previous number of 1,629.572 USD bn for 2016. United States US Securities by Foreign Holders: China data is updated yearly, averaging 1,502.288 USD bn from Jun 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 1,844.020 USD bn in 2015 and a record low of 181.478 USD bn in 2002. United States US Securities by Foreign Holders: 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.

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 217.7 basis points (bps) over Germany and 33.4 bps over the U.S. In contrast, China and Japan display negative spreads, with Japan having the lowest spread at -301.2 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.

United States USF: Long Term: Equity: Common: China data was reported at 136.052 USD bn in 2017. This records an increase from the previous number of 129.257 USD bn for 2016. United States USF: Long Term: Equity: Common: China data is updated yearly, averaging 108.067 USD bn from Jun 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 263.365 USD bn in 2015 and a record low of 1.490 USD bn in 2003. United States USF: Long Term: Equity: Common: 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.

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. 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. 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.

Foreign Exchange Reserves in China increased to 3285000 USD Million in May from 3282000 USD Million in April of 2025. This dataset provides - China Foreign Exchange Reserves - actual values, historical data, forecast, chart, statistics, economic calendar and news.

As of December 2022, the value of total assets of the Chinese real estate developer Evergrande dropped to around 1.84 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 2.5 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.

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 Foreign Securities by US Holders: China data was reported at 101.350 USD bn in 2016. This records a decrease from the previous number of 107.725 USD bn for 2015. United States Foreign Securities by US Holders: China data is updated yearly, averaging 76.798 USD bn from Dec 1994 (Median) to 2016, with 17 observations. The data reached an all-time high of 133.274 USD bn in 2014 and a record low of 2.085 USD bn in 1994. United States Foreign Securities by US Holders: 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 USF: Long Term: CD: Asset Backed: China data was reported at 4.412 USD bn in 2016. This records a decrease from the previous number of 6.236 USD bn for 2015. United States USF: Long Term: CD: Asset Backed: China data is updated yearly, averaging 6.119 USD bn from Jun 2003 (Median) to 2016, with 14 observations. The data reached an all-time high of 14.797 USD bn in 2006 and a record low of 1.658 USD bn in 2010. United States USF: Long Term: CD: 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.Z047: Foreign Residents' Portfolio Holdings of U.S. 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.

United States FSU: Equity: Funds: China data was reported at 1.055 USD bn in 2017. This records a decrease from the previous number of 1.575 USD bn for 2016. United States FSU: Equity: Funds: China data is updated yearly, averaging 128.000 USD mn from Dec 2003 (Median) to 2017, with 15 observations. The data reached an all-time high of 2.949 USD bn in 2015 and a record low of 0.000 USD mn in 2004. United States FSU: Equity: Funds: 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.