China's Dec forex reserves rise more than expected to US$3.25 trln

[beijingwalker]

China's Dec forex reserves rise more than expected to US$3.25 trln

07 Jan 2022 04:29PM

BEIJING - China's foreign exchange reserves rose more than expected in December, official data showed on Friday.

The reserves - the world's largest - rose US$27.78 billion to US$3.25 trillion last month, compared with US$3.233 trillion forecast in a Reuters poll of analysts and US$3.222 trillion in November.

China held 62.64 million fine troy ounces of gold at the end of December, unchanged from the end of November. The value of the reserves rose to US$113.13 billion from US$113.03 billion.

China's Dec forex reserves rise to US$3.25 trln

BEIJING - China's foreign exchange reserves rose more than expected in December, official data showed on Friday. The reserves - the world's largest - rose US$27.78 billion to US$3.25 trillion last month, compared with US$3.233 trillion forecast in a Reuters poll of analysts and US$3.222 trillion...

www.channelnewsasia.com

 

[S10]

China needs to bring up its gold reserves rather than invest into US dollars. Having less than 2000 tons of gold is pitiful for the second largest economy on earth.

United States	8133	8133	Sep/21	Tonnes
Germany	3359	3359	Sep/21	Tonnes
Italy	2452	2452	Sep/21	Tonnes
France	2436	2436	Sep/21	Tonnes
Russia	2299	2292	Sep/21	Tonnes
China	1948	1948	Sep/21	Tonnes

 

[xuxu1457]

We will not need so much foreign exchange reserves after 2013. Every year we will spend our foreign exchange reserves by encouraging investment in the world. This is why China's foreign exchange reserves have not increased at 3 trillion US dollars. Different countries have different troubles. We need to keep foreign investment to prevent foreign exchange reserves from growing too fast.

 

[Stranagor]

Currently, Russia and China have good relations. Russia was punished and faced many difficulties. China can help Russia, buy Tu-95, Tu-22M, Mi-26, Ka-52 and many other weapons from Russia with TOT. China will receive many new technologies and Russia received money. The two sides won.

I think most of those reserve is invested overseas (like US treasury bonds) via sovereign wealth funds and bring profit.