China held $1.04 trillion in U.S. Treasury securities as of December 2021. By December 2025, that position had declined to $683.5 billion — a reduction of roughly $357 billion, or 34%, over four years. China remains the third-largest foreign holder of U.S. federal debt, but its share of total foreign holdings fell from 13.4% to 7.4% over the same period. The trajectory is unambiguous and sustained. The decline has been both nominal and relative.