(Yicai Global) Jan. 22 -- China’s foreign exchange reserves rose to USD3.22 trillion at the end of last year, USD108.6 billion more than at the same time in 2019, the State Administration of Foreign Exchange announced today.

SAFE will continue to promote the two-way opening of capital accounts this year, expand pilot programs to facilitate trade in foreign exchange receipts and expenditures, support regional opening innovation and the construction of special regions, study and carry out high-level cross-border trade and investment pilot openings, build an open, diversified and fully functional forex market and support financial institutions in introducing more foreign exchange derivatives that adapt to market demand, Wang Chunying, SAFE’s deputy administrator, chief economist and spokesperson, said at a press conference today.

Recent yuan appreciation has left unchanged the situation of China's current account, which still preserves a reasonable surplus. It has also not altered China's cross-border capital flow in and out of the overall balance, she added.

Editor: Ben Armour, Xiao Yi