Foreign exchange reserves are convertible currency assets held by the national central bank and can be used at any time. What needs to be clear is that if there are monetary assets belonging to the national fiscal surplus or raised by issuing national debt, then the government can certainly use them when facing the need to expand domestic demand. As for how much to spend on public welfare and infrastructure projects, how much to spend on direct transfer payments, such as issuing consumer vouchers to the public or even issuing some banknotes directly, can be discussed and implemented through the implementation of policies. But foreign exchange reserves are not. China's foreign exchange reserves are purchased by the central bank by issuing currency, that is, using the base currency instead of the fiscal surplus.