ChainThink reports: On May 16 local time, data released by the U.S. Department of the Treasury showed that in March 2025, among the top three foreign holders of U.S. Treasuries, Japan and the United Kingdom increased their holdings of U.S. Treasury bonds, while China reduced its holdings. China fell from the second-largest holder to the third-largest holder, and the United Kingdom became the second-largest holder. March was just before this round of turbulence in the U.S. Treasury market. According to the U.S. Department of the Treasury's March 2025 International Capital Flows Report (TIC), Japan increased its holdings of U.S. Treasury bonds by 4.9 billion dollars in March, with a total holding of 1.1308 trillion dollars, remaining the largest holder of U.S. debt. China reduced its holdings of U.S. Treasury bonds by 18.9 billion dollars in March to 765.4 billion dollars, marking the first reduction this year. After the reduction, China's holding of U.S. Treasury bonds dropped from second to third. Since April 2022, China's holdings of U.S. Treasury bonds have been below 1 trillion dollars, and have generally shown a trend of reduction. In January 2025, China increased its holdings of U.S. Treasury bonds by 1.8 billion dollars, and in February, it increased by 23.5 billion dollars. In 2022, 2023, and 2024, China reduced its holdings of U.S. Treasury bonds by 173.2 billion dollars, 50.8 billion dollars, and 57.3 billion dollars respectively. (Jinshi)