Before the reform and opening up, China's export volume was very small, and the state had too little foreign exchange to buy foreign products and technologies, so the state encouraged enterprises to export to earn foreign exchange. Moreover, before the RMB exchange rate was pegged to the US dollar, the US dollar has been very strong, so holding more foreign exchange played a key role in maintaining the stability of the domestic financial market. Now China's foreign exchange system reform is gradually advancing, and the RMB exchange rate has also begun to implement the exchange rate policy of a basket of currencies, no longer keeping a close eye on the US dollar; In addition, since the reform and opening up 30 years ago, foreign exchange reserves have increased, so the system reform of foreign exchange management is also being gradually explored and promoted;

The country used to take foreign exchange reserves only to buy equipment and technology from abroad, but now there are more and more policies to encourage foreign investment;

In fact, the reform of a system is not so fast. After all, the domestic financial market is still relatively independent, and it takes time for us to explore, so the reform of the foreign exchange system cannot be achieved overnight.