The story appears on

Page A3

June 11, 2019

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Economy

Nation’s foreign exchange reserves rebound

CHINA’S foreign exchange reserves expanded slightly to US$3.1 trillion at the end of May, up 0.2 percent from the end of April.

The reading marked the highest level in nine months and a rebound after April’s drop snapped a five-month rising streak.

Wang Chunying, a spokesperson for the State Administration of Foreign Exchange, attributed the pickup to multiple factors such as valuation changes in exchange rates and asset price changes. Wang said the country’s sound economic fundamentals would underpin stable development of the Forex market and provide a solid basis for the stability of foreign exchange reserves.

Although uncertainties abound in the world and international financial markets are likely to become more vulnerable, the Chinese economy, with its great resilience, potential and capability to cope with external headwinds, will maintain a sound momentum over the long term, Wang said.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend