Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

They aren't. As you say, you are unable to hold large USD balances in China. Whenever an exporter's account is credited with USD, the Chinese bank will take that convert into RMB, take those dollars to the PBOC who will then give them a PBOC note.

There is obviously some kind of leakage occurring. Again, no-one where that is coming from because the PBOC is still holding $3tn.



Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: