Photo taken on Sept. 30, 2020 shows the street view of the Lujiazui area of Pudong, east China's Shanghai. (Xinhua/Wang Xiang)
BEIJING, March 7 (Xinhua) -- China's foreign exchange reserves fell in February as global financial asset prices dropped amid a strengthening U.S. dollar, data from the State Administration of Foreign Exchange showed Monday.
The country's forex holdings stood at more than 3.21 trillion dollars at the end of February, down 7.8 billion dollars, or 0.24 percent, from the end of January.
Commenting on the data, the administration's deputy head Wang Chunying said the flow of cross-border capital was stable and orderly last month, and supply and demand in the domestic forex market were "basically balanced."
Wang attributed the decline to the rise of the dollar index and the changes in global financial asset prices, which were driven by factors including geopolitical situations and the expectations of major countries' monetary policies.
Despite the complicated and challenging external circumstances, China's efforts to coordinate COVID-19 prevention and control work with economic and social development, as well as its efforts to stabilize the economy, will help maintain the stability of its forex reserves, Wang said.
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