In December 2023, China purchased $66.2 billion, increasing its dollar reserves by 2.1%. This was reported by the State Exchange Control Administration of the People’s Republic of China. TASS.
The purchase of American currency in China is explained by the “economic and monetary policies of key countries” and the prospects for their development, as well as the decline in the value of the dollar in the face of rising prices of global financial assets.
“High-quality economic development is firmly supported. This will help maintain an overall stable volume of foreign exchange reserves,” Chinese officials emphasized.
The People’s Bank of China increased its foreign exchange reserves by 1 percent to approximately $3.25 trillion in 2021, and then reduced it by 3.7 percent to $3.12 trillion.
Formerly Deputy Chairman of the Federation Council Konstantin Kosachev statedAccording to him, the Russian Federation and China have learned a “serious lesson” and will no longer “trust” the dollar and euro.
Previously RIA Novosti WroteOne third of UN countries are giving up the dollar.