China plans to increase gold reserves, which should support the national currency, in fact, the country's foreign exchange reserves have exceeded the performance of the US, which will be 8.5 million tons.
According to officials, the gold reserves will give China the benefits and will help to make the yuan an international currency. This is at odds with the opinion of most experts, who believe that gold has long lost its status of safe asset. But China blames the US, which stores 74% of world's reserves of the yellow metal, which allows the country to use their position to suppress other currencies and the impact of conservation dollars.
The Chinese Communist Party is going to encourage individual investment in gold, which should help strengthen the economy and protect it from shocks. Demand exceeds supply and the metal was 2,197 thousand tons in 2013.
Thus, China implements its program for the internationalization of the yuan.