China July FX reserves rise to $3.118 trln despite trade tensions

[haidian]

MARKET NEWS
AUGUST 7, 2018 / 4:33 PM / UPDATED AN HOUR AGO
China July FX reserves rise to $3.118 trln despite trade tensions

BEIJING, Aug 7 (Reuters) - China’s foreign exchange reserves unexpectedly rose in July even as worries over escalating trade tensions between the United States and China have caused market volatility.

Reserves rose $5.82 billion in July to $3.118 trillion, compared with a rise of $1.51 billion in June, central bank data showed on Tuesday.

https://www.reuters.com/article/chi...118-trln-despite-trade-tensions-idUSENNI820TJ

 

[TaiShang]

MARKET NEWS
AUGUST 7, 2018 / 4:33 PM / UPDATED AN HOUR AGO
China July FX reserves rise to $3.118 trln despite trade tensions

BEIJING, Aug 7 (Reuters) - China’s foreign exchange reserves unexpectedly rose in July even as worries over escalating trade tensions between the United States and China have caused market volatility.

Reserves rose $5.82 billion in July to $3.118 trillion, compared with a rise of $1.51 billion in June, central bank data showed on Tuesday.

https://www.reuters.com/article/chi...118-trln-despite-trade-tensions-idUSENNI820TJ

That money is used for investment as well as potential cushion against external shocks.

Seems like trade disagreements will continue and the US will still use trade as a means to try to subdue others.

In such an environment, a mountain of cash helps.

 

[Pakistani Aircraft]

How comes the Chinese don't brag about their $3.1 trillion reserves while Indians go on and on about their $400 billion reserves?

 

[haidian]

Foreign-exchange reserves
Rank Country or region Foreign-exchange reserves
(Millions of US$) Figures as of
1

China 3,125,000 April 2018 [1]
2

Japan 1,256,018 April 2018 [2]
3

Switzerland 800,389 May 2018 [3]
4

Saudi Arabia 488,900 December 2017 [4]
5

Russia 460,300 13 July 2018[5]
6

Taiwan[6] 456,721 February 2018[7]
7

Hong Kong 431,900 June 2018 [8]
8

India 404,192 27 July 2018[9]
9

South Korea 396,800 March 2018[10]
10

Brazil 381,419 10 April 2018[11]

What amazes me is Taiwan and Hong Kong.

 

[Mista]

What amazes me is Taiwan and Hong Kong.

Switzerland?

 

[XDescendantX]

What amazes me is Taiwan and Hong Kong.

What amazes me is that China's reserves are actually over $4 trillion, because Hong Kong & Taiwan belong to China.

 

[haidian]

Hopefully China can find good markets to invest those money, people sleep but money doesn't.

 

[TaiShang]

Hopefully China can find good markets to invest those money, people sleep but money doesn't.

CIC does that (Near 1 trillion USD in their management). Their return on investment was said to be near 20% last year.

 

[Icewolf]

How comes the Chinese don't brag about their $3.1 trillion reserves while Indians go on and on about their $400 billion reserves?

They literally have nothing else to brag about. When 60% of your country open defecates outside, when your country is named as the rape capital of the world, when most of your population lives in dire poverty what is there to brag about?
Indians can brag about their FX reserves and their economy and how many Indians leave their country through brain drain to become CEOs in America.

Literally there’s nothing in India to brag about but that.