China’s foreign exchange reserves to expand in December 2022

BEIJING, Jan. 7 (Xinhua) — China’s foreign exchange reserves reached US$3.1277 trillion at the end of December 2022, up 0.33% from the previous month, State Administration of Foreign Exchange data said on Saturday. shown.

Foreign exchange regulators attribute the increase in foreign exchange reserves to the combined effects of currency translation and asset price fluctuations.

Last month, the U.S. dollar index fell and prices of global financial assets fell, influenced by monetary policy and expectations in major countries, as well as global macroeconomic data, regulators said.

We also expect China’s foreign exchange reserves to be broadly stable as the Chinese economy enjoys strong resilience, tremendous potential and great vitality, and the fundamentals to sustain long-term growth remain strong. added that it would.