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.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.