State Administration of Foreign Exchange: The continuous consolidation and strengthening of China's economic recovery provide support for maintaining basic stability in the scale of foreign exchange reserves

On April 7th, according to statistics from the State Administration of Foreign Exchange, as of the end of March 2024, the scale of China's foreign exchange reserves was 3245.7 billion US dollars, an increase of 19.8 billion US dollars or 0.62% compared to the end of February. In March 2024, influenced by monetary policies and expectations of major economies, macroeconomic data, and other factors, the US dollar index rose, and global financial asset prices overall rose. The combined effect of exchange rate conversion and changes in asset prices has led to an increase in the size of foreign exchange reserves for the month. The trend of China's economy rebounding and improving continues to consolidate and strengthen, and the long-term positive fundamentals will not change, providing support for maintaining basic stability in the scale of foreign exchange reserves.