China increases gold reserves and reduces investments in US national debt

China continues to buy gold and reduce investments in US Treasury bonds. The authors of NetEase attribute these actions to the Russian experience and the risks of blocking state reserves abroad.

In September, China’s gold reserves increased by 740,000 troy ounces. China replenished it for 23 consecutive months, follows from official data of the Chinese side.

The $15.4 billion reduction in U.S. bond holdings mentioned in the original publication refers to July, not September. According to the table of the US Treasury, in July the volume of securities held by holders from mainland China decreased from 633.4 billion to 618 billion dollars.

According to the authors of NetEase, Beijing takes into account the consequences of freezing Russian reserves. The publication recalls the blocking of assets of the Russian Federation for about $ 300 billion and contrasts them with gold reserves, which Western countries were unable to freeze. The authors also consider reducing Russian investments in US bonds as a way to reduce sanctions risks.

In this view, buying gold and reducing U.S. debt is helping China tighten its hold on reserves. However, the connection of these decisions with the Russian experience is an assessment of NetEase, not the explanation given in the material by the Chinese authorities.

The publication emphasizes the scale of the changes, recalling that China was previously the largest foreign holder of US government debt, and its investments exceeded $ 1 trillion.

Maniac salesman killed 14 people and avoided life sentence

In Russia proposed to use “Poseidon” against the UK

The ban on transit through Russia has complicated the supply of coal to Poland before the winter

The main thing for the night and morning of October 19: about the work of airports and the decision of trump on sanctions n

Reliable news is always at hand - in the channel "MK" in MAX