In 2024, the foreign reserves "foundation" is revealed: the central bank increased its Shareholding of Gold by 1.42 million ounces. How does the appreciation of the dollar affect the foreign reserve Assets?
As of the end of December 2024, China's Forex reserves were 3202.4 billion USD; The central bank of China has increased its Gold shareholding for two consecutive months; overall, in 2024, the central bank of China increased its Gold shareholding by 1.42 million ounces.
Chinese Central Bank to Cut Reserve Requirement Ratio, Interest Rates At 'Proper Time'
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The central bank's Financial Times: The central bank clearly signals to stabilize Exchange Rates.
① The statement regarding Exchange Rates in the central bank's fourth quarter monetary policy meeting showed a significant change, as the press release removed the phrase "enhancing Exchange Rate flexibility" and restored the expression of "three resolute actions", conveying a clearer and stronger signal for stabilizing Exchange Rates; ③ Historical experience shows that the People's Bank has a sufficient toolkit and rich experience to address the depreciation of the RMB and has the capacity to maintain the RMB Exchange Rate basically stable at a reasonable and balanced level.
Debon Securities: PMI has remained in the expansion Range for three consecutive months.
Current attention is still needed on the changes in expectations. With the calibration of policy dynamics and the gradual strengthening of the process, the possibility of the economy converging to expectations is greater.
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