关键词: 外汇储备, 成本, 收益

Abstract: With the increasing of China's foreign exchange reserve, the cost of holding foreign exchange reserve is rising. This paper analyzes the quantifiable costs of holding foreign exchange reserve, including write-off costs, capital losses, debt reserve cost and opportunity cost; the revenue of China's foreign exchange reserve is also analyzed. Finally, we conclude foreign exchange reserve’s net proceeds and put forward policy recommendations.

Key words: Foreign Exchange Reserve, Cost, Benefit