The volume of foreign reserves in China is 2.45 trillion dollars, according to reports, the Chinese government on Sept. 3 edition of the China Securities Journal (CSJ), with reference to sources in the People's Bank of China (the Chinese central bank). In this case, according to the publication, 65% of all gold reserves of China nominated in U.S. dollars, 26% - in euros, 5% - in pounds sterling, and another 3% - in the yen. Thus, the figures were released the most detailed information on the status of China's foreign reserves in recent years.
Meanwhile, the Chinese central bank has already commented on the published figures. According to representatives of the organization, reduction of reserve currency of concern in Beijing. In addition, the central bank said that China should adopt more effective and flexible macroeconomic policies in order to facilitate the use of renminbi in international markets. "At the same time, China will continue the gradual opening of domestic financial markets to foreign holders of yuan," - noted in the Central Bank of China.
It is worth noting that the total national foreign exchange reserves of China and the earlier estimated at 2.5 trillion dollars, but their structure is a state secret. It was assumed that the dollar-denominated assets, primarily long-term treasury bonds and other debt obligations of U.S. government accounted for about 70%, while the remaining 30% in the odds ratio divided between the assets in European currencies and the yen, while the euro is a big part. China's investment in the euro-zone government debt was estimated at roughly 630 billion euros. It was believed that the debt bonds in Greece, Ireland, Italy, Portugal and Spain, with regard to financial stability, which the official Beijing has repeatedly expressed concern, are negligible, since the basis of a conservative financial strategy of the country on the principle of security.
