The divestment from US Treasury securities is a verified fact. China has been consistently and aggressively reducing its holdings of US government debt. By the middle of 2026, China's holdings of US bonds had dropped to approximately $618 billion. The share of Treasuries in China's total reserves has indeed plummeted compared to the peak levels of previous years. Gold reserves of the PBOC (People's Bank of China): China is accumulating gold at a massive pace. Official reserves reached 2,346 metric tons by the second quarter of 2026. At the same time, many analysts believe that China's actual unreported reserves could be significantly higher, potentially already exceeding the 5,000 metric ton mark. Gold surpassing the dollar as a reserve asset: During 2025 and 2026, leading financial publications and the World Gold Council released reports indicating that, by total value, gold held in global central bank reserves had surpassed US Treasury securities. It is worth noting that in September 2026, the US Federal Reserve issued a research note attempting to challenge this framing and point out nuances in the calculation methodology. Nevertheless, the broader trend of dedollarization remains undeniable.