Financial security has always been a high-level strategic issue, involving how to maintain the wealth accumulated after the reform and opening up. Some people may think that holding US Treasury bonds contributes to the United States. What if America doesn't pay us back? It is not a comprehensive consideration to worry about the US Treasury bonds we hold without considering how to protect the national financial security. When each country maintains a certain amount of foreign exchange reserves and holds a certain amount of American debt, it will take the national financial security as the primary consideration. This is not only a strategic issue, but also a tactical issue. If they only consider buying American debt to help the United States develop its economy, but fail to see strategic issues, then they lack macro vision.

China's foreign exchange reserves decreased by 1 trillion dollars in a short time. If this happens again, do we have a lot of foreign exchange and American debt? Then we must consider how to provide a way to make trillions of dollars flow in a short time to prevent the exchange rate of the dollar from rising. Apart from having a huge foreign exchange reserve structure to prevent the dollar run caused by the rebound of the dollar, there is no more reasonable method at present. Therefore, under the premise of ensuring national financial security, we need to consider the liquidity, safety and yield of funds. In the past year, the US government launched a trillion-dollar economic stimulus plan to prepare for the harvest day. Recently, the U.S. Treasury Department also indicated that in the $2.25 trillion economic plan for large-scale infrastructure projects, it will not only increase corporate taxes, but also save $2 trillion for the world within ten years.

Due to the habit of international payment and settlement, China's current trade surplus is mainly concentrated in the spot exchange of US dollars and euros. Because these foreign currencies can't be used up, they can't be left in cash. In particular, the United States prints money from time to time to devalue the dollar. In fact, apart from buying some gold and overseas fixed assets, the rest of China's foreign exchange funds are used to buy the national debt of major economic countries, among which the US national debt is the main one (the national debt held by the United States). Accounting for one third of China's foreign exchange reserves.

On the one hand, the growth of global gold is limited, and the growth rate of gold cannot reach the range you want to grow. On the other hand, foreign exchange reserves must have a certain rapid liquidity to meet temporary needs. Overseas fixed assets have high liquidity. Weak, so foreign exchange reserves can not be used for investment in fixed assets. At this time, liquid American debt has become the first choice!