截至2025年6月外资持有美国证券的初步报告

截至 2025 年 6 月外资持有美国证券的初步报告 |美国财政部
新闻稿
截至2025年6月外资持有美国证券的初步报告
2026 年 2 月 27 日
华盛顿——美国财政部网站今天发布了 2025 年 6 月外国投资组合持有美国证券年度调查的初步数据：https://home.treasury.gov/data/treasury-international-capital-tic-system/us-liability-to-foreigners-from-holdings-of-us-securities。最终调查结果将于 2026 年 4 月 30 日公布，其中包括更多细节以及对初步数据的可能修订。该调查由财政部、纽约联邦储备银行和美联储系统理事会联合进行。下一次年度调查将涵盖 2026 年 6 月底的持股情况；初步数据预计将于 2027 年 2 月 26 日发布。
每年还进行衡量美国持有外国证券的补充调查。最近的调查数据报告了 2025 年底持有的证券，目前正在处理中。初步结果预计将于 2026 年 8 月 31 日公布。
总体初步结果
该调查测算，截至 2025 年 6 月 30 日，外国持有的美国证券价值为 353,340 亿美元，其中 198,430 亿美元持有美国股票，138,390 亿美元持有美国长期债务证券[1]（其中 16,260 亿美元持有资产支持证券 (ABS)[2]，122,130 亿美元持有美国股票）。非 ABS 证券），以及持有 16,520 亿美元的美国短期债务证券。截至2024年6月30日进行的上一次调查测算，外国持有的美国证券总价值为308,810亿美元，其中持有168,780亿美元的美国股票、126,880亿美元的美国长期债务证券和13,140亿美元的美国短期债务证券（见表A）。
[1]。长期债务证券的原始到期期限为一年以上。
[2]。资产支持证券由资产池支持，例如住宅抵押贷款池或信用卡应收账款池，这使证券所有者可以针对基础资产产生的现金流提出索取权。与大多数其他债务证券不同，这些证券通常定期偿还本金和利息，从而减少每个支付周期的未偿本金。
表 A. 截至最近调查日期，按证券类型划分的外国持有的美国证券
（十亿美元）
证券类型 2024年6月30日 2025年6月30日
长期证券 29,566 33,682
股票 16,878
19,843
长期债务 12,688
13,839
资产支持 1,588
1,626
其他 11,100
12,213
短期债务证券 1,314 1,652
总计 30,881 35,334
其中：官方 6,598 6,904
表 B. 按国家和证券类型划分的外国持有的美国证券
截至 2025 年 6 月 30 日，主要投资美国国家
（十亿美元）
总股本 长期债务 短期
ABS 其他术语
1 英国 3,461 2,056 80 1,233 93
2 开曼群岛 3,177 2,156 121 742 159
3 加拿大 2,898 2,063 190 605 39
4 日本 2,883 1,169 264 1,325 125
5 卢森堡 2,640 1,356 96 1,028 160
6 爱尔兰 2,223 1,469 68 481 204
7 瑞士 1,377 939 11 365 62
8 中国大陆 [i] 1,279 344 189 670 75
9 比利时 1,181 135 23 942 81
10 新加坡 1,117 758 34 311 14
11 挪威 1,109 826 * 282 *
12 法国 1,082 601 45 416 20
13 台湾 854 172 186 491 5
14 澳大利亚 804 694 12 88 10
15 韩国南部 804 592 35 170 8
16 德国 800 572 8 197 23
17 荷兰 644 461 20 160 4
18 香港 607 262 14 279 52
19 科威特 495 377 9 98 11
20 百慕大 466 150 57 215 44
21 瑞典 454 396 * 57 *
22 沙特阿拉伯 361 215 5 114 27
23 英属维尔京群岛 354 190 46 95 23
24 阿拉伯联合酋长国 332 230 1 42 59
25 以色列 314 182 4 101 27
世界其他地区 3,619 1,478 106 1,709 326
总计 35,334 19,843 1,626 12,213 1,652
其中：外国官员 6,904 2,227 539 3,733 405
* 低于 5 亿美元但大于零。
[我]。不包括香港、澳门和台湾地区，单独报告。
使用特色图片
关闭

Preliminary Report on Foreign Holdings of U.S. Securities at End-June 2025 | U.S. Department of the Treasury
Press Releases
Preliminary Report on Foreign Holdings of U.S. Securities at End-June 2025
February 27, 2026
Washington – Preliminary data from the June 2025 annual survey of foreign portfolio holdings of U.S. securities were released today on the Treasury website at https://home.treasury.gov/data/treasury-international-capital-tic-system/us-liabilities-to-foreigners-from-holdings-of-us-securities . Final survey results, which will include additional detail as well as possible revisions to the preliminary data, will be reported on April 30, 2026. The survey was undertaken jointly by Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System. The next annual survey will cover holdings at the end of June 2026; preliminary data are expected to be released by February 26, 2027.
Complementary surveys measuring U.S. holdings of foreign securities are also carried out annually. Data from the most recent survey, reporting on securities held at year-end 2025, are currently being processed. Preliminary results are expected to be reported by August 31, 2026.
Overall Preliminary Results
The survey measured the value of foreign holdings of U.S. securities as of June 30, 2025, to be $35,334 billion, with $19,843 billion held in U.S. equities, $13,839 billion held in U.S. long-term debt securities [1] (of which $1,626 billion are holdings of asset-backed securities (ABS) [2] and $12,213 billion are holdings of non-ABS securities), and $1,652 billion held in U.S. short-term debt securities. The previous survey, conducted as of June 30, 2024, measured the value of total foreign holdings of U.S. securities at $30,881 billion, with holdings of $16,878 billion in U.S. equities, $12,688 billion in U.S. long-term debt securities, and $1,314 billion in U.S. short-term debt securities (see Table A).
[1]. Long-term debt securities have an original term-to-maturity of over one year.
[2]. Asset-backed securities are backed by pools of assets, such as pools of residential home mortgages or credit card receivables, which give the security owners claims against the cash flows generated by the underlying assets. Unlike most other debt securities, these securities generally repay both principal and interest on a regular basis, reducing the principal outstanding with each payment cycle.
Table A. Foreign holdings of U.S. securities, by type of security, as of recent survey dates
(Billions of dollars)
Type of security June 30, 2024 June 30, 2025
Long-term securities 29,566 33,682
Equities 16,878
19,843
Long-term debt 12,688
13,839
Asset-backed 1,588
1,626
Other 11,100
12,213
Short-term debt securities 1,314 1,652
Total 30,881 35,334
Of which: Official 6,598 6,904
Table B. Foreign holdings of U.S. securities, by country and type of security,
for the major investing countries into the United States, as of June 30, 2025
(Billions of dollars)
Total Equities Long-term debt Short
ABS Other -term
1 United Kingdom 3,461 2,056 80 1,233 93
2 Cayman Islands 3,177 2,156 121 742 159
3 Canada 2,898 2,063 190 605 39
4 Japan 2,883 1,169 264 1,325 125
5 Luxembourg 2,640 1,356 96 1,028 160
6 Ireland 2,223 1,469 68 481 204
7 Switzerland 1,377 939 11 365 62
8 China, mainland [i] 1,279 344 189 670 75
9 Belgium 1,181 135 23 942 81
10 Singapore 1,117 758 34 311 14
11 Norway 1,109 826 * 282 *
12 France 1,082 601 45 416 20
13 Taiwan 854 172 186 491 5
14 Australia 804 694 12 88 10
15 Korea, South 804 592 35 170 8
16 Germany 800 572 8 197 23
17 Netherlands 644 461 20 160 4
18 Hong Kong 607 262 14 279 52
19 Kuwait 495 377 9 98 11
20 Bermuda 466 150 57 215 44
21 Sweden 454 396 * 57 *
22 Saudi Arabia 361 215 5 114 27
23 British Virgin Islands 354 190 46 95 23
24 United Arab Emirates 332 230 1 42 59
25 Israel 314 182 4 101 27
Rest of world 3,619 1,478 106 1,709 326
Total 35,334 19,843 1,626 12,213 1,652
of which: Foreign official 6,904 2,227 539 3,733 405
* Less than $500 million but more than zero.
[i]. Excludes Hong Kong, Macau, and Taiwan, which are reported separately.
Use featured image
Off