China's $618 Billion Stake in US Debt Amidst Currency Market Tensions

China is one of the largest holders of U.S. debt, ranking third behind Japan and the United Kingdom.

Mainland China holds $618.0 billion in U.S. government debt as of July 2026, according to U.S. Treasury TIC data.

This figure has fluctuated month-to-month, reaching a peak of around $1.32 trillion in 2013 and decreasing to $633 billion in June and $693 billion in August.

Japan's position as the largest holder of U.S. debt is significant, as its large holdings have led to joint intervention by the U.S. Treasury and Federal Reserve in currency markets this summer.

The Fed's FIMA Repo Facility allows foreign central banks to borrow dollars against their Treasuries, but evidence suggests that Japan may have sold some of its Treasuries despite having access to this facility.