China's Foreign Reserves Hit $3.2 Trillion USD
- 13 years ago
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China's foreign reserves have risen to almost 3.2 trillion U.S. dollars, the Central Bank said in a report on Tuesday.
The Chinese regime has been buying up foreign currency to counter the upward rise of the yuan. Keeping the yuan undervalued helps Chinese exporters, but harms international competition.
The make up of China's foreign reserves is a state secret. But U.S. Treasury data shows that China is the largest holder of U.S. Treasury securities, valued at over 1.1 trillion dollars as of April 2011.
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China's foreign reserves have risen to almost 3.2 trillion U.S. dollars, the Central Bank said in a report on Tuesday.
The Chinese regime has been buying up foreign currency to counter the upward rise of the yuan. Keeping the yuan undervalued helps Chinese exporters, but harms international competition.
The make up of China's foreign reserves is a state secret. But U.S. Treasury data shows that China is the largest holder of U.S. Treasury securities, valued at over 1.1 trillion dollars as of April 2011.