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China's currency reserves are estimated at $2.45 trillion dollars. While hard data is a state secret, some information was obtained from the China Security Journal and reported by Reuters.
Roughly 65% of China's currency reserves are in U.S. dollars, 26% in euros, 5% in pounds and 3% in yen. With such a huge sum outstanding, Chinese officials are afraid of depreciation. Hu Xiaolian, vice governor of the Peoples Bank of China, writing in China Finance said: "Once a currency's value becomes unstable, there will be quite large depreciation risks for assets."
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