At the G20 finance leaders meeting in Japan on Saturday, US Treasury Secretary Steven Mnuchin accused China of allowing the yuan to slide in a bid to offset the impact of Washington’s trade tariffs. Photo: EPA

China’s foreign exchange reserves rebound in May, gold holdings also rise

  • The surprise US$6.1 billion increase to US$3.101 trillion came as Beijing also boosted its gold reserves by 1.88 per cent to US$79.8 billion
  • Speculation that China could use massive reserves, mostly US dollar-denominated assets, to counter trade war moves by US President Donald Trump
Topic |   China economy

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At the G20 finance leaders meeting in Japan on Saturday, US Treasury Secretary Steven Mnuchin accused China of allowing the yuan to slide in a bid to offset the impact of Washington’s trade tariffs. Photo: EPA
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