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eign exchange reserves at $3.095 trillion at the end of April. The reserve amount was stable, altho
ugh it slightly retreated from $3.098 trillion at the end of March, according to the State Administration of Foreign Exchange.
Li Yang, director of the National Institution for Finance and Development of the Chinese Academy
of Social Sciences, said that China is unlikely to sacrifice foreign exchange reserves to de
fend its currency, even if depreciation pressure rises amid any escalation in trade tension.
In May, the offshore RMB exchange rate against the US dollar dropped more than 3 percen
t under market pressure as global investors worried about the escalation of trade friction.
Guo Shuqing, Party secretary of the People’s Bank of China, the central bank, said on Monday that higher US tariffs on Chin
a’s imports triggered financial market volatility, and this also affected the offshore RMB.
China, with related hashtags getting more than 150 million views on Weibo.
Eunice Yoon, Beijing bureau chief and Inside China host at CNBC Interna
tional, tweeted to Regan that 120 million people viewed a Chinese hashtag that she tran
slated to: “Fox News female anchor challenges debate after being accused by CCTV for being emotional”.
Yoon, incidentally, was a former classmate of Regan’s at Phillips Exeter Academy, a prep school in New Hampshire.
“Seeing the kind of reaction online, I want to say, it’s important for us to have a meaningfu
l discussion to try to understand each other better. I appreciate the opportunity,” Liu wrote on May 24.
Liu has been working at CCTV since 1997, after graduating from Nanjing University’s English studies program.
icy tools to offset short-term downside pressure, while the financial risks are under control as the country’s debt level has shown signs of stabilizing, Zhang said.
China’s overall debt-to-GDP ratio had dropped to 249.4 percent
by the end of 2018, 1.5 percentage points lower than a year earlier, according to the PBOC.
If trade tensions escalate further, more opening-up policies in the sectors of medical
care and education will help boost global investors’ confidence in the Chinese economy, Zhang added.
By hiking the tariffs on $200 billion of Chinese goods from 10 percent t
o 25 percent just when it seemed the China-US trade talks would achieve a bre
akthrough, the United States has not only intensified the trade dispute but also ensured both sides take a knock.