Name: Report: China Holds $3 Trillion in ‘Hidden Currency’
Uploaded: 2023-07-01T17:24:39.000Z
Description: According to Brad Setser, a former U.S. trade and Treasury official, China currently holds a total of $6 trillion in its foreign exchange reserves. But half of those funds are not recorded in the official books of the central bank.

Tiffany Meier is an anchor, China news investigative reporter, and producer for NTD News based at the network's global headquarters in New York City. Tiffany anchors NTD's flagship shows "NTD Evening News" and "China in Focus" and co-moderates NTD's special election coverage "The Nation Decides." She produced the award-winning NTD Original documentary "Hollywood Takeover: China's Control in the Film Industry."


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According to Brad Setser, a former U.S. trade and Treasury official, China currently holds a total of $6 trillion in its foreign exchange reserves. But half of those funds are not recorded in the official books of the central bank.

Instead, this money is stored by state commercial lenders and policy banks.

Setser says that the regime's lack of transparency will eventually bring negative impacts to the rest of the world, given the size of its economy.

These reserves played a major role in the Belt and Road Initiative. The ambitious infrastructure program is known to help spread Beijing's influence across the globe. Setser says that the regime's efforts to diversify foreign exchange holdings helped develop the project.

The official number of China's total reserves has remained static over the last few years. But the invisible amount has likely spiked along with China's export surplus.

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