China has instructed state-owned banks to reduce their exposure to U.S. Treasury securities, extending a multi-year decline in its holdings of American government debt. The directive comes as China’s U.S. Treasury portfolio has dropped to its lowest level in roughly 17 years, reflecting a broader shift in how the country manages foreign reserves amid rising geopolitical and market risks according to report from Bloomberg. China’s Treasury holdings is reported to have fallen to around the mid-$600 billion range, down sharply from peaks above $1.3 trillion more than a decade ago. While the People’s Bank of China ... (full story)