The reporter learned from the State Administration of foreign exchange on the 7th that by the end of March, China's foreign exchange reserves had reached 3170 billion US dollars, down 35 billion US dollars or 1.09% from the end of February.
What are the reasons for the changes in the scale of foreign exchange reserves in March? Wang Chunying, deputy director of the State Administration of foreign exchange and press spokesman, said that in March, China's foreign exchange market was stable and the supply and demand of foreign exchange were basically balanced. Novel coronavirus pneumonia and vaccine progress, major national fiscal policy and monetary policy expectations were also influencing the international financial market. The US dollar index rose and the prices of major state bonds declined. Due to the combined effect of exchange rate conversion and asset price changes, the scale of foreign exchange reserves decreased in the current month.
"Looking forward to the future, the overseas epidemic situation is still complex and severe, and the global economic recovery and international financial markets are still facing many uncertain and unstable factors. However, the momentum of China's domestic economic development is constantly increasing, and the positive factors are obviously increasing, which is conducive to the basic stability of the scale of foreign exchange reserves. " Wang Chunying said.
