SHANGHAI :
China's Forex Reserves Stand at USD3.09 Trillion at September End
Xinhua
DATE:  Oct 07 2019
/ SOURCE:  yicai
China's Forex Reserves Stand at USD3.09 Trillion at September End China's Forex Reserves Stand at USD3.09 Trillion at September End

(Yicai Global) Oct. 07 -- China's foreign exchange reserves came in at 3.09 trillion U.S. dollars at the end of September, official data showed Sunday.

The amount increased by 19.7 billion U.S. dollars, or 0.6 percent from the beginning of 2019, according to the State Administration of Foreign Exchange (SAFE).

Wang Chunying, a spokesperson for SAFE, said that the scale of forex reserves was affected by multiple factors, including exchange rates and changes in asset prices.

"Factors including global economic growth, monetary policies of major countries, global trade situation and geopolitics led to the rise in the U.S. dollar index and the drop in bond prices of major countries," said Wang.

Since the beginning of the year, Chinese economy, despite a complex global situation, has maintained overall stability and posted stable growth with an improved economic structure, said Wang. China's forex reserves are generally stable and small fluctuations in scale are mainly attributable to valuation factors, spokesperson added.

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Keywords:   Foreign Exchange Reserves