Reported 5 months ago
China has significantly increased its efforts to de-dollarize by selling a record $53.3 billion worth of US Treasury and agency bonds in the first quarter, as reported by Bloomberg. This move comes as the country aims to reduce its reliance on dollar-denominated assets and prop up its weakening yuan against a strengthening US dollar. China is also increasing its gold reserves, with gold now comprising the highest share of its reserves since 2015, as part of broader efforts to diversify global finance and reduce dollar dominance.
Source: YAHOO