Moderate Scale Study Of China's Gold Reserves

Gold reserves are one of China's important international reserves.They can effectively avoid the risks brought by exchange rates,weaken the economic instability caused by inflation,and improve the international economic credit level of a country.In April 2018,the Turkish currency Lira depreciated 5.3%against the US dollar,a new low in recent years.The Argentine currency peso depreciated by 5%in the case of the central bank raising interest rates and intervening in the foreign exchange market.From March to June 2018,Russia will The US bonds held fell from 43.7%to 21.9%,successfully achieving "de-dollarization" On September 18,2018,the US government unilaterally announced a declaration on tariffs on China's approximately 200 billion US dollars of goods.So far,Sino-US trade The friction has opened,and this series of economic phenomena has led to a tight international trade situation and weak global economic growth.The foreign exchange management of central banks faces great challenges.At the same time,with the deepening implementation of the"Belt and Road Initiative,initiative,China's foreign trade structure is undergoing profound changes.In 2018,China's total trade volume along the "Belt and Road"countries was about 8.4 trillion yuan,an increase of 13.3%over the previous year.,accounting for 27.42%of China's total foreign trade.Under this background,it is of great theoretical and practical significance to explore the moderate scale of China's gold reserves,optimize China's international reserve structure,and realize the preservation and appreciation of foreign exchange assets.The study found that China's last increase in gold reserves was in December 2018.As of the end of August 2019,China's central bank had increased its holdings of gold reserves for nine months,during which the net increase was 3.21 million ounces.It has reached 62.45 million ounces and ranks sixth in the global gold reserve,accounting for 3.07%of China's foreign exchange reserves.In the view of this article,China's motive for the continuous increase of gold reserves is mainly to protect China's huge foreign exchange under the circumstance of the deepening of multilateral trade cooperation between China-US trade friction consultation-confrontation-re-consultation and " One Belt,One Road" initiative.To ensure the liquidity and profitability of international assets while maintaining security,it is necessary to match the scale of gold reserves to the level of adaptation.Based on this,this paper takes the unique role of gold reserves as an entry point,and studies the moderate scale of China's gold reserves in the context of Sino-US trade friction and the“Belt and Road”initiative.The article studies along the special role of China's gold reserves,the factors affecting the scale of China's gold reserves and the determination of its modest scale,and then the path to the realization of gold reserves.The article first explains the relevant theories and analyzes the special role of gold reserves,especially the gold reserve as the final means of payment to protect the solvency of the holders in crisis and war.Secondly,the status of China's gold reserves is analyzed.On the basis of the combination of normative analysis and empirical research,we will deeply study the fautors affecting the scale of China's gold reserves;then use the above-mentioned proven economic factors as research indicators,and use the relevant data from August 2001 to August 2019 to adopt improvements.The asset portfolio model studies the moderate scale of China's gold reserves in the form of total scores.It is concluded that in the current economic environment,China's gold reserves should be around 10,178.71tons,accounting for 10%of foreign exchange reserves.Within the 17%range.Finally,the conclusion is drawn:First,China's current gold reserves are on a low scale,and it is necessary to purchase gold in a timely manner.Second,China's foreign trade and foreign debts have a relatively obvious impact on the scale of gold reserves.The combined effect of the two directly affects China's gold reserves.The scale of holding;Third,the "Belt and Road" initiative and Sino-US trade friction will also have an impact on the size of the gold reserve.However,due to the current "Belt and Road" multilateral cooperation is still in its infancy,the impact on the scale of gold reserves is still relatively small.Therefore,in the context of Sino-US trade frictions and the "Belt and Road Initiative",on the one hand,we must open up various channels to increase the scale of China's gold reserves.We need to use perfect the gold industry chain and vigorously fight against gold production,The gold market,increase the investment varieties of gold,and realize the simultaneous development of "Tibet in the People" and "Tibet in the Country".On the other hand,taking into account the holding cost of gold reserves,buy gold as much as possible on dips.