China Cuts Its US Debt to Avoid Russia Sanctions – Nikkei

China reduced its holdings of US government debt by 9% in the first seven months of 2022 as it looked to avoid getting caught up in US sanctions on Russia, Nikkei Asia reported.

The freezing of Russian bank assets dealt a big potential blow to Beijing, said its financial authorities the report. Russia and China have since stepped up trade using the yuan, it added.

Read the full report: Nikkei Asia

Read more:

US Banks Pressured to Take Tougher Stance on Taiwan,

Investors Losing Confidence on China, EU Chamber Says

China’s Coal Imports From Russia Hit a Peak in August

Alfie Habershon

Alfie is a Reporter at Asia Financial. He previously lived in Mumbai reporting on India's economy and healthcare for data journalism initiative IndiaSpend, as well as having worked for London based Tortoise Media.

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