The central bank: at the end of 10, China's foreign exchange reserves amounted to US $30531 billion.

Su Shi Yu

08 November 2018, 08:08 source: Securities Daily
 

Yesterday, the latest foreign exchange reserve data released by the people's Bank of China showed that as at the end of 10 in 2018, China's foreign exchange reserves amounted to 30531 billion US dollars, down by 33 billion 900 million US dollars from the end of 9, a decrease of 1.1%.

Wang Chunying, spokesman for the State Administration of foreign exchange, said that in October, cross-border capital flows in China were generally stable and the balance of payments was basically balanced. Influenced by multiple factors such as monetary policy of major countries, Global trade situation and geopolitical situation, the fluctuation of international financial market has intensified, the US dollar index has risen more than 2%, and asset prices in major countries have been adjusted. Exchange rate conversion and asset price changes and other factors combined, the scale of foreign exchange reserves declined slightly.

Wang Chunying said that since the beginning of this year, the international environment has been complicated, and the uncertainties in the global economic and financial markets have increased significantly. China's economy has been running smoothly and steadily, and has continued to maintain a reasonable range, and the foreign exchange market has been running smoothly. Preliminary statistics show that in October, the bank's foreign exchange settlement and sale showed a small deficit of about US $3 billion, narrowing by more than 80% compared to September, of which the net purchase of foreign exchange was stable, with a drop in the ratio of annex and year-on-year.

Looking ahead, Wang Chunying said that although there are still many uncertainties in the external environment, China's economic fundamentals are steady, resilient and resilient. With the transformation and upgrading of China's economy and further opening up to the outside world, the favorable conditions for the smooth operation of cross-border capital flows are still adequate, and the scale of China's foreign exchange reserves is expected to remain stable during the fluctuations.

(Editor: Li Dong, Zhu Yifan)

Recommended reading