China owns most of the US debt with about $1.2 trillion.

Japan owns about $1.1 trillion.

Which Foreign governments own the most U.S. debt?

Top 10 (as of Aug/2012)

1. China, Mainland, $1153.6 billion dollars

2. Japan, $1121.5 billion dollars

3. Oil Exporters*, $263.0 billion dollars

4. Carib Bnkng Ctrs**, $256.9 billion dollars

5. Brazil, $253.9 billion dollars

6. All Other, $226.8 billion dollars

7. Switzerland, $202.2 billion dollars

8. Taiwan, $198.0 billion dollars

9. United Kingdom, $153.6 billion dollars

10. Russia, $153.3 billion dollars