China's foreign exchange reserves increased to $3.1052 trillion at the end of October
Xinhua News Agency, Beijing, November 7 (Reporter Liu Kaixiong) the State Administration of Foreign Exchange (safe) released the latest data on the scale of foreign exchange reserves on the 7th. By the end of October 2019, the scale of China's foreign exchange reserves was 3.1052 trillion US dollars, up 12.7 billion US dollars from the end of September. An increase of 0.4%.
Wang Chunying, spokesman for the State Administration of Foreign Exchange and chief economist, said that in October, China's foreign exchange market was operating smoothly on the whole. Affected by the global trade situation, the monetary policy of major central banks and the prospect of Brexit, the dollar index fell and the prices of bonds in major countries fell. "the combined effect of exchange rate conversion and changes in asset prices has led to an increase in the scale of foreign exchange reserves."
"the growth of the world economy is slowing down, and there are still many unstable and uncertain factors in the international financial market, but the fundamentals of the long-term improvement of China's economy have not changed." Wang Chunying said: the intensity of reform and opening up has been continuously intensified, the driving force for endogenous development has been continuously strengthened, and we have the ability to resist various risks and challenges, thus providing a solid foundation for the overall stability of the scale of foreign exchange reserves.