U.S. Treasury released its semi-annual report a few days ago and move China from "#currency manipulator" to “watch list”.
Gradually declined after reaching a peak in June 2014, China's #foreignexchange reserves has stabilized around US $ 3 trillion since 2017.
The main purpose of China's foreign exchange market operations in recent years is to “stabilize the foreign exchange reserves”, instead of one-way foreign exchange intervention.
In other words, China did not bought foreign assets on a large scale to devalue its currency.
Hence China only meets one of the three criteria for the so-called "currency manipulator" by the United States.
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