China's foreign exchange reserve is just a figure, a revolving account, not a decisive national savings. In fact, there is no foreign currency in circulation in China. With this foreign exchange reserve account, you can accept the funds invested by the world in China, and it is also the account into which the export payment is transferred, and also the account for the import payment. Foreign investment and export payment entering the foreign exchange reserve account will be issued in China according to the exchange rate, while import payment expenditure will be transferred out of the foreign exchange reserve account, and the domestic RMB will shrink accordingly. Of course, the withdrawal of foreign capital is also the transfer of foreign currency through foreign exchange deposit accounts, and the domestic RMB shrinks according to the exchange rate.