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China’s foreign exchange reserves have been remarkably stable. Puzzled economists wonder why

Summary:
[unable to retrieve full-text content]China’s foreign exchange reserves have shown surprisingly little change in recent years despite volatile economic conditions and exchange rates among its major trading partners.China’s reserve assets held in foreign currencies, the world’s largest war chest, have been stuck between US.0 trillion and US.2 trillion since 2017 because the People’s Bank of China (PBOC) appears to have largely stopped using them in market intervention to manage the yuan’s value.“We will continue to refrain from…

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[unable to retrieve full-text content]
China’s foreign exchange reserves have shown surprisingly little change in recent years despite volatile economic conditions and exchange rates among its major trading partners.China’s reserve assets held in foreign currencies, the world’s largest war chest, have been stuck between US$3.0 trillion and US$3.2 trillion since 2017 because the People’s Bank of China (PBOC) appears to have largely stopped using them in market intervention to manage the yuan’s value.“We will continue to refrain from…

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