China: First foreign currency reserve details announced: Dollar dependence declined
Beijing
August 13, 2019
China National Foreign Currency Management Bureau:
On July 28, the National Foreign Currency Management Bureau Annual Report (2018) was announced.
For the first time, we will clarify foreign currency reserves (operation results, currency composition) data.
This time, I also explained the status of the investment philosophy, risk management, operation system and so on.
China Futures Exchange Research Institute: Zhaoqing Ming Chief Economist (Financial Times, July 29)
Disclosing more information in the annual report reduces market misunderstandings.
In addition, we can analyze the foreign currency reserve operation in China more comprehensively.
Publication details: National Foreign Currency Management Bureau annual report (2018)
Announcement of foreign currency reserve management results and constituent currency ratios.
Foreign currency reserves: investment performance
According to the annual report, the average rate of return on foreign currency reserves from 2005 to 2014 is 3.68%.
Currency composition: (see figure)
Dollar ratio: from 79.0% in 1995 to 58.0% in 2014.
Non-dollar currency ratio: expanded from 21.0% to 42.0%.
-JETRO
https://www.jetro.go.jp/biznews/2019/08/5803483f272125f4.html
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