Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

China's forex reserves continue to grow in March

April 08, 2019


Abstract : China's foreign exchange reserves rose to 3.0988 trillion U.S. dollars by the end of March, official data showed Sunday.

BEIJING, April 7 (Xinhua) -- China's foreign exchange reserves rose to 3.0988 trillion U.S. dollars by the end of March, official data showed Sunday.

The amount increased by 8.6 billion U.S. dollars, or 0.3 percent from the end of February, according to the State Administration of Foreign Exchange.

Having grown for five consecutive months, the forex reserves was slightly higher than the market estimate of 3.0900 trillion dollars.

March's increase was a result of various factors, including the changes of foreign exchange rates and asset prices, said Wang Chunying, SAFE spokesperson and chief economist.

Xie Yaxuan, chief analyst at China Merchants Securities, said the supply and demand of foreign currencies in China's forex market was basically balanced. He attributed such balance to Chinese currency yuan's stable exchange rate and the country's expansion of financial opening-up.

Despite rising volatility in the global financial market, China will maintain stable forex reserves with its economy running within a reasonable range, Wang added.

Gold reserves amounted to 60.62 million ounces by the end of last month, a slight rise from February, according to the central bank.


Scan the QR code and push it to your mobile phone

Keyword: forex china-economy

Reading:

China's achievements provide valuable lessons for Bangladesh: minister

China sees fast growth in urban rail transit

China, U.S. "stand to gain from cooperation," says diplomat

Cedar Holdings: Guangzhou to become home to more Fortune Global 500 Companies

Chinese cars rev up along Belt & Road routes

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial