外汇储备指由各国官方持有的、可以自由支配和的自由兑换的储备货币,是一国储备的主要组成和国家宏观调控实力的重要标志。
持有大量外汇储蓄的央行已经拍卖了美元。
The Central Bank, which has ample reserves, has auctioned dollars.
这还会导致美元大幅贬值，同时也会抹去中国巨额的外汇储蓄。因此，双方都必须阻止这样的情况发生。
It could also spark a collapse in the dollar and thereby wipe out a big chunk of China's foreign-currency reserves, so both sides have an interest in preventing it from happening.
要使亚洲债券市场能够变成地区私人储蓄的“家”而不仅仅是循环外汇的“车”就好了，那时它就是成功了。
Only if Asia's bond market can become a home for the region's private savings rather than just a vehicle to recycle foreign exchange, will it count as a success.
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