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
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

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
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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