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

TOP PICKS

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
READ FULL ARTICLE
US Treasury Secretary Steven Mnuchin with People‘s Bank of China governor Yi Gang. Photo: Bloomberg

US President Donald Trump ‘perfectly happy’ to impose more tariffs on Chinese goods if talks fail to progress, Steven Mnuchin says

  • US Treasury Secretary puts ball back in Beijing’s court, saying Washington prepared to ‘move forward’ as long as China accepts its terms
  • Official tweeted earlier about ‘candid’ trade discussion with People’s Bank of China governor Yi Gang
Topic |   US-China trade war

TOP PICKS

US Treasury Secretary Steven Mnuchin with People‘s Bank of China governor Yi Gang. Photo: Bloomberg
READ FULL ARTICLE