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Foreign Exchange Of China Reserve Ended 12 Months To Drop 27 Billion US Dollars From Last Month

- Mar 23, 2018 -

China News Agency in Beijing, on March, 7th (reporter Wei Xi) reported that the latest foreign exchange reserve data released by the people's Bank of China on the 7 day showed that, at the end of 2, China's foreign exchange reserves amounted to 31345 billion US dollars, down 27 billion US dollars from the end of 1, and the decrease was 0.85%.


Previously, China's foreign exchange reserves have risen for 12 months in a row, from more than $2 trillion and 990 billion at the end of 1 in 2017 to $3 trillion and 160 billion at the end of 1 month of 2018.


On the same day, the head of the State Administration of foreign exchange answered questions from reporters on the same day. In February, China's cross-border capital flows and domestic and foreign main body transactions were generally stable, and the supply and demand of foreign exchange market continued to basically balance. The volatility of the international financial market is rising, and the exchange rate and asset prices have been adjusted. The main non dollar currencies have been combined with the US dollar and asset price callbacks, and the scale of foreign exchange reserves has decreased slightly.


The State Administration of foreign exchange (State Administration of foreign exchange) believes that China's economy has the ability to continue to develop steadily in a stable and stable way. Driven by fundamental factors, the two-way fluctuation of the RMB exchange rate will become the norm, creating favorable conditions for the two-way flow and overall balance of medium and long term cross-border capital. On the other hand, the global economy is expected to continue the recovery situation, the main central bank gradually tighten monetary policy, and the uncertainty of the financial market is rising. The overall stability of China's foreign exchange reserves is expected to be maintained at home and abroad.