China forex reserves rise to $3.204trln in July

[beijingwalker]

China forex reserves rise to $3.204trln in July​

The yuan rose 1.5% against the dollar in July, while the dollar last month fell 1.0% against a basket of other major currencies =USD

Reuters News

7 August 2023 • 18:16

China's foreign exchange reserves rose more than expected in July, official data showed on Monday, as the dollar fell against other major currencies.

The country's foreign exchange reserves - the world's largest - rose $11.3 billion to $3.204 trillion last month, compared with $3.200 trillion tipped by a Reuters poll of analysts and $3.193 trillion in June.

The yuan rose 1.5% against the dollar in July, while the dollar last month fell 1.0% against a basket of other major currencies =USD.

China held 68.69 million fine troy ounces of gold at the end of July, up from from 67.95 million ounces the end-June.

The value of China's gold reserves rose to $135.36 billion at the end of July from $129.93 billion at end-June.

 

[PradoTLC]

China forex reserves rise to $3.204trln in July​

The yuan rose 1.5% against the dollar in July, while the dollar last month fell 1.0% against a basket of other major currencies =USD

Reuters News

7 August 2023 • 18:16

China's foreign exchange reserves rose more than expected in July, official data showed on Monday, as the dollar fell against other major currencies.

The country's foreign exchange reserves - the world's largest - rose $11.3 billion to $3.204 trillion last month, compared with $3.200 trillion tipped by a Reuters poll of analysts and $3.193 trillion in June.

The yuan rose 1.5% against the dollar in July, while the dollar last month fell 1.0% against a basket of other major currencies =USD.

China held 68.69 million fine troy ounces of gold at the end of July, up from from 67.95 million ounces the end-June.

The value of China's gold reserves rose to $135.36 billion at the end of July from $129.93 billion at end-June.

they can buy whole of india

 

[Olympus81]

Well the fact they have 3.204 trillion US DOLLARS, says alot.

 

[beijingwalker]

Hong kong is not included, Hong kong also in the top 10 global rankings, having $440 billion foreign reserves

 

[legacytiger18]

they can buy whole of india

why cant they bail out pakistan with a change of $10 billion out of $3500 billion ?

 

[letsrock]

Well the fact they have 3.204 trillion US DOLLARS, says alot.

I think they are denominated in USD. which is not the same as having everything in USD. many countries keep the actual mix of currencies they have in reserves a secret - i dont know about china.

 

[StraightEdge]

they can buy whole of india

They actually can't, but that not the point. It's a big number. However i am sure they won't need this much to buy entire Pakistan few times over.

 

[MeFishToo]

why cant they bail out pakistan with a change of $10 billion out of $3500 billion ?

Because Chinas local government debt is over $8 trillion. The chinese would probably prefere its government to bail out the chinese before anyone else.

 

[beijingwalker]

Because Chinas local government debt is over $8 trillion. The chinese would probably prefere its government to bail out the chinese before anyone else.

China's debts are also China's assets, cause all banks and almost all big companies and factories in China all belong to the government.

 

[MeFishToo]

Stop cherry picking, Beijingwalker

And it is even worse now. Chinas debt to gdp ratio is almost 300%. Notice the surge - its not a healthy sign. Chinas “growth” is based on debt.

 

[Zsari]

Stop cherry picking, Beijingwalker
View attachment 944329
View attachment 944330

And it is even worse now. Chinas debt to gdp ratio is almost 300%. Notice the surge - its not a healthy sign.

• United States Total Debt accounted for 764.2 % of the country's GDP in 2023, compared with the ratio of 765.0 % in the previous quarter.

https://www.ceicdata.com/en/indicator/united-states/total-debt--of-gdp

 

[MeFishToo]

China's debts are also China's assets, cause all banks and almost all big companies and factories in China all belong to the government.

Take note all of you promoting the economy of your favorite authoritarian state. Notice the grey countries - no IMF data.

• United States Total Debt accounted for 764.2 % of the country's GDP in 2023, compared with the ratio of 765.0 % in the previous quarter.

https://www.ceicdata.com/en/indicator/united-states/total-debt--of-gdp

Why dont you post chinas numbers from this website? Every country debt to gdp is 500-1000% on this website - and China didnt seem to fit this model they are using.

 

[Zsari]

Take note all of you promoting the economy of your favorite authoritarian state. Notice the grey countries - no IMF data.
View attachment 944343

Why dont you post chinas numbers from this website? Every country debt to gdp is 500-1000% on this website - and China didnt seem to fit this model they are using.

That's the % range if total debt instead of public debt is used, whereas many charts as the ones you've provided are comparing public debt of these countries to China's total debt.

 

[MeFishToo]

That's the % range if total debt instead of public debt is used, whereas many charts as the ones you've provided are comparing public debt of these countries to China's total debt.

View attachment 944378

You didnt provide Chinas total debt to GDP ratio from this ceicdata model you were using showing the US numbers.
Fact is Chinas total debt to GDP ratio is higher than the US ratio, and it has surged since 2008.

 

[Zsari]

You didnt provide Chinas total debt to GDP ratio from this ceicdata model you were using showing the US numbers.
Fact is Chinas total debt to GDP ratio is higher than the US ratio, and it has surged since 2008.

CEIC data doesn't have China's total debt, but it does have the government debt as well as private debt as percentage of GDP. And no, those who claim China's debt is higher than the US is again comparing apples to oranges.

https://www.ceicdata.com/en/country/china