What does it mean for China to buy U.S. Treasury bonds, and the price of the bonds will fall? It's simple. The depreciation of the dollar has a great influence on us. For example, we spent RMB from 8 yuan to buy a US dollar national debt. Now that the dollar is depreciating, we can spend six dollars to buy a dollar national debt, and we can't get back the two dollars we spent originally. That is, when we sell one yuan of national debt, we can only recover 6 yuan RMB and evaporate two yuan.