China's June forex reserves rise to $3.112 trillion

[beijingwalker]

China's June forex reserves rise to $3.112 trillion
JULY 7, 2020 / 4:22 PM /

BEIJING (Reuters) - China’s foreign exchange reserves rose less than expected in June as the yuan strengthened and global asset prices rebounded amid a recovery in economic sentiment.

The country’s foreign exchange reserves - the world’s largest - rose $10.64 billion (£8.52 billion) in June to $3.112 trillion, central bank data showed on Tuesday.


Economists polled by Reuters had expected the country’s reserves to rise by $18.31 billion to $3.120 trillion.

Foreign inflows into Chinese stocks and bonds have picked up recently as investors bet on an economic rebound. Strict capital controls have also largely helped China keep outflows under control over the past year despite the shock from the coronavirus outbreak, a prolonged trade war with the United States and weakening economic growth.

https://uk.reuters.com/article/uk-c...reserves-rise-to-3-112-trillion-idUKKBN2480YB

 

[beijingwalker]

China's Forex Reserves Rose $10.64 Billion in June
07/07/2020 | 04:34am EDT

BEIJING--China's foreign-exchange reserves rose in June for a third straight month amid a weakening dollar and eased outflow pressure, official data showed Tuesday.

The country's hoard of foreign exchange increased by $10.64 billion to $3.112 trillion at the end of June, according to data released by the People's Bank of China.

Economists polled by The Wall Street Journal had expected an $18 billion rise in reserves in June. In May, China's foreign-exchange reserves increased by $10.23 billion.

The U.S. dollar dropped 1.00% against the Chinese yuan last month. Meanwhile, the U.S. dollar index dropped 0.89% in June, compared with a 0.76% fall in May, according to information provider Wind.

https://www.marketscreener.com/DOLL...Reserves-Rose-10-64-Billion-in-June-30886007/

 

[Yaseen1]

keeping these reserves in form of paper money of u.s will not be viable option for china for long time as u.s can deliberately devalue dollar at anytime and replace them with new currency or u.s dollar may crash due to civil unrest in u.s resulting in china losing alot of such reserves

 

[beijingwalker]

keeping these reserves in form of paper money of u.s will not be viable option for china for long time as u.s can deliberately devalue dollar at anytime and replace them with new currency or u.s dollar may crash due to civil unrest in u.s

We surely know that, that's why we have BRI and CPEC and become the world biggest creditor surpassing the world bank.

 

[beijingwalker]

So much for sanctioning and boycotting Chinese products, China's exports and reserves just keep surging.

 

[OBLiTeRate TrumpTurd]

This news of INCREASE ~ FX reserve in Murican Paper Toilet usd is such a GLARING proof that most Chinese intellectual are ABSOLUTELY COWARD & Totally idiotic brainwashed Murican SLAVES.

 

[Pakistani E]

This is good news. Congratulation to China, a strong and prosperous China means a strong and prosperous Pakistan.

 

[beijingwalker]

This news of INCREASE ~ FX reserve in Murican Paper Toilet usd is such a GLARING proof that most Chinese intellectual are ABSOLUTELY COWARD & Totally idiotic brainwashed Murican SLAVES.

How do you know China has only US dollars as her foreign reserves?

 

[OBLiTeRate TrumpTurd]

How do you know China has only US dollars as her foreign reserves?

just ask all those TRADERs in ALIBABA ~ they are all so HAPPY to be paid in Toilet Paper usd.

Why the CHN MoF * not instructing those Traders to stop taking Toilet Paper usd, unless there is no other option.

When can CHN bring the DIGITAL Yuan to all Global commerce activities ??
What are CHN waiting for ??

Lets collapse Murican buying power asap, especially during surging COVID-19 in Murica.

 

[Daniel808]

According to you, China is the poorest nation in the world

@Viva_Viet

 

[Genghis khan1]

just ask all those TRADERs in ALIBABA ~ they are all so HAPPY to be paid in Toilet Paper usd.

Why the CHN MoF * not instructing those Traders to stop taking Toilet Paper usd, unless there is no other option.

When can CHN bring the DIGITAL Yuan to all Global commerce activities ??
What are CHN waiting for ??

Lets collapse Murican buying power asap, especially during surging COVID-19 in Murica.

US dollar is the reserve currency for Petro trade. That’s where it gets it’s power. Until and unless China grow some muscle and show Arabian babes that there is a new daddy in town. Saudi (GCC) will have no incentive to switch. Dollar will stay dominate.

 

[beijingwalker]

What should China do with them? US just prints dollars like there's no tomorrow and one day they can become worthless.

 

[Daniel808]

What should China do with them? US just prints dollars like there's no tomorrow and one day they can become worthless.

It's a blackhole for US economy indeed.

I think what China did is good, dumping those US dollars in Overseas Project & Investments, that become a Real Asset and Sovereign Wealth Fund

@Shotgunner51 is the one that can explain deeper about China's Economic

 

[Protest_again]

China should transfer a $100 billion to Pakistan and have them ready to take on India the next time.

 

[leviathan]

China should transfer a $100 billion to Pakistan and have them ready to take on India the next time.

Never hear CPEC？