JUST IN: A report recommends that China reduce its holdings of US Treasury bonds as the yuan's internationalization progresses.

China foreign exchange reserves, among the largest in the world, and its portfolio of US Treasury bonds are coming under scrutiny from the country's leading economic institutions.
A report recently published by Sun Jiaqi of the International Monetary Institute at Renmin University argues for reducing the level of foreign exchange reserves, including US Treasury bonds, as the Chinese yuan's internationalization progresses.