China's foreign currency reserves up in July

0 Comment(s)Print E-mail Xinhua, August 8, 2022
Adjust font size:

China's foreign exchange reserves climbed to 3.1041 trillion U.S. dollars by the end of July, up 32.8 billion dollars from June, data from the State Administration of Foreign Exchange showed on Sunday.

"Supply and demand in the domestic foreign exchange market remained balanced," deputy administration head Wang Chunying said, commenting on the data.

Wang attributed the increase in forex reserves to the increase in the dollar index and financial asset prices globally.

Deeming the external situation to be complex and grim, Wang said the global financial market still faces uncertainties amid increasing risks and challenges in the global economy.

But China's economic fundamentals for long-term growth have remained unchanged thanks to its efforts in coordinating COVID-19 prevention and control with economic and social development, which will keep the country's forex reserves stable, Wang said.

Follow on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from