China offloads record amount of dollar assets

Beijing has sold $53.3 billion in US securities, according to Treasury Department data China sold a record number of US bonds in the first quarter of this year, highlighting the country’s shift away from dollar assets, the latest data from the US Treasury Department reveals. Beijing has divested a total of $53.3 billion in Treasuries and agency bonds combined in the first three months of the year, while at the same time increasing its purchases of gold and other commodities, data showed. Some analysts have suggested that this reduction in foreign exchange reserves could be part of China’s broader strategy to diver

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Last updated : 20 May 2024 clock 06:20 PM

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