Foreign exchange reserves are the money of the central bank and also represent the national wealth. They can't be understood as China people's "hard-earned money" in general, and they can't be used for free.

"Export to earn foreign exchange"-a slogan that was in full swing a few years ago, is still fresh in many people's memory. Therefore, some people think that China's foreign exchange reserves are paid by thousands of enterprises or individuals in Qian Qian with real goods, energy, resources and hidden environmental costs, and they are the "hard-earned money" of ordinary people.

Free distribution to the public will lead to serious consequences such as inflation and bankruptcy of the central bank. "Flower" foreign reserves should adhere to the principle of paid use and overseas use.

From this process, we can see that enterprises and individuals do not give foreign exchange to the central bank for free, but sell it to the central bank through banks to get the equivalent RMB. These transactions are based on the principle of equal value and voluntariness. The economic interests of enterprises and individuals have been realized when foreign exchange is converted into RMB, that is, "money pays for goods". On the other hand, when the central bank buys foreign exchange, it has to pay the equivalent amount of RMB, and this process is manifested in the release of RMB, which is also the "invoice". In other words, foreign exchange reserves are "purchased" by the central bank from social liabilities in the form of "invoices". On the balance sheet of the central bank, assets are foreign exchange reserves and liabilities are equivalent to RMB. The seemingly glamorous foreign exchange reserves are actually not the "net assets" of the central bank, but the corresponding liabilities.