Some foreign exchange reserves are invested by foreign investors in the central bank. They changed dollars into RMB to invest in China, and finally they changed the transferred RMB into dollars. The other part belongs to international speculators. They watched the appreciation of the renminbi, exchanged dollars for renminbi, and finally exchanged them back for dollars. The rest belongs to the government of China. China Export Company sells its products abroad and gives you US dollars, which must be converted into RMB at the central bank before it can be consumed at home. The central bank printed the corresponding RMB to these export companies, and the US dollar remained in the central bank. So don't say that foreign exchange belongs to the people of China, but should increase welfare for the people and so on. This statement is completely ignorant. Foreign exchange must not be used at home, otherwise it will lead to hyperinflation, which is equivalent to printing money repeatedly.