From the Globe & Mail: China cuts U.S. Treasury holdings:
(Note: you will need to scroll down to the section discussed here.)
“China, the biggest foreign owner of U.S. government bonds, cut its holdings in December to the lowest level since June 2010…
“Analysts are divided on what the change means: a temporary shift toward Europe to help the region shore up its finances; a strategic move away from the U.S. on concern a weakening currency and low interest rates will cut investment returns; or a simple dip that doesn’t mean that much.”
Here’s another idea: China will not be FATCA compliant and wants to limit the downside risk of 30 percent withholding tax paid to IRS.