China Sells Record Sum of U.S. Debt Amid Signs of Diversification

(Bloomberg) — China sold a record amount of Treasury and U.S. agency bonds in the first quarter, highlighting a move to diversify away from American assets as trade tensions persist.

Beijing offloaded $53.3 billion of Treasury and agency bonds in the first quarter, according to calculations based on the latest data from the U.S. Department of the Treasury. Belgium, often seen as a custodian of China’s holdings, disposed of $22 billion worth of Treasuries during the period.