Yining: Can increase the gold reserve appropriately

The deputy director of the CPPCC Economic Committee, Yining, vice chairman of the central Zanu-PF, March 8, suggested that China could increase its gold reserves appropriately, especially when the price of gold fell slightly while seizing the time to buy gold in foreign exchange.　　Increasing gold reserves is conducive to the security of foreign exchange reserves. The yining was expressed at the second plenary meeting of the four sessions of the CPPCC. He believes that any kind of hard currency in our foreign exchange reserves accounted for a large proportion, and there is no fixed pattern, according to the actual situation, timely adjustment, overall consideration.　　However, the speed of adjustment should not be too fast, the number of adjustments should not be too diligent, or cause international economic turbulence intensified, but against our country. He also said that if foreign exchange assets can be quickly realizable, the effect will be better than foreign currency reserves. Choose high quality foreign exchange assets such as land, mines, forests, and listed companies with good performance.　　In addition, the earnings of foreign exchange assets may be greater than those held in foreign currency bonds. Yining suggested that foreign exchange reserves could be used as foreign funds. For example, the use of some foreign exchange reserves as foreign loans, to promote product exports, project contracting, labor export, or the establishment of production bases abroad, logistics facilities.　　This will not only promote domestic economic development, increase employment, but also access to foreign exchange income. In addition, Yining also proposed the "flexible" way of storing, including encouraging domestic enterprises to go out, to increase imports of advanced machinery and equipment, shortages of raw materials and fuel, and to establish overseas investment funds. He encouraged the "Tibetan people" to encourage the private sector to increase the holdings of foreign exchange reserves, including those owned by businesses and individual residents.