The State Administration of Foreign Exchange (Safe) on Sunday disclosed that it had cut the portion of US dollar-denominated assets in its reserves portfolio to 58 per cent in 2014. Photo: Bloomberg

China has ‘price to pay’ for cutting US dollar share of forex reserves, analysts say

  • Analysts raise doubts whether Beijing has already gone too far in turning away from the US dollar
  • China shed light on secretive foreign exchange reserves by releasing investment returns and US dollar share in decade to 2014
Topic |   China economy

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The State Administration of Foreign Exchange (Safe) on Sunday disclosed that it had cut the portion of US dollar-denominated assets in its reserves portfolio to 58 per cent in 2014. Photo: Bloomberg
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Karen Yeung

Karen Yeung

Karen Yeung joined the Post in 2017 after more than 15 years' experience on global newswires in Hong Kong and Shanghai. She spent eight years in Shanghai and has received awards for best feature, analysis and agenda-setting.