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- Index number:
- 000014453-2018-00236
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- Dispatch date:
- 2018-02-07
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- Publish organization:
- State Administration of Foreign Exchange
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- Exchange Reference number：
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- Name：
- SAFE Official Answers Media Questions on Foreign Exchange Reserves for January 2018
Q: The latest data on foreign exchange reserves disseminated by the People's Bank of China show that China's foreign exchange reserves as of the end of January 2018 rose by USD 21.5 billion month on month. Could you brief us on the causes of such changes? What are the trends in foreign exchange reserves in the future?
A: As at the end of January 2018, China's foreign exchange reserves hit USD 3.1615 trillion, up by USD 21.5 billion or 0.68% month on month.
In January, China posted stable cross-border capital flows and trading behaviors of domestic and foreign players. In the global financial markets, foreign exchange reserves grew slightly under the combined impact of rises in foreign exchange rates of non-USD currencies and changes in asset prices.
Going forward, China will accelerate the adjustment, optimization and upgrade of its economic structure and the economic fundamentals are expected to continue its stable growth and good momentum. As the global economy recovers, central banks will tighten their monetary policies. Boosted by fundamental factors, China's cross border capital flows and foreign exchange supply and demand will be further balanced, and the two-way fluctuations of RMB exchange rate will be more obvious. In the face of domestic and foreign economic and financial conditions, China will see stable foreign exchange reserves in the future.
