Banker: Maintaining the Dollar is Good for China

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China will keep supporting the U.S. dollar in the next few years, according to one of the country's top state bankers.

Li Ruogu is chairman of Export-Import Bank of China, a lender tasked with supporting the country's foreign investments. He told Reuters that China has a huge amount of foreign reserves, so a collapse in the dollar would hurt China as well.

"I believe that, for now, supporting the dollar's stability and its international currency status is good for China," Li said.

"In the short run, maintaining a stable dollar is good for everyone. It is good for the United States, good for China and good for the world," he added.

China has $2.4 trillion in official reserves and bankers believe that two-thirds of that amount is invested in dollar assets.

Some analysts have speculated China might dump some of its holding in U.S. securities because the dollar has been falling in the international markets. And that has hurt the value of China's investments in the U.S.

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