Foreign Exchange Administration: my country’s foreign exchange reserves increased by US$ 10.2 billion at the end of May compared with the end of April

　　China News Service, June 7, according to the State Administration of Foreign Exchange website, Wang Chunying, spokesperson and chief economist of the State Administration of Foreign Exchange, answered reporters' questions about the changes in the scale of foreign exchange reserves in May 2020. Wang Chunying pointed out that as of the end of May 2020, my country's foreign exchange reserves were 3101.7 billion US dollars, an increase of 10.2 billion US dollars from the end of April, an increase of 0.3%.

Information figure: Bank staff is counting the currency. China News Service reporter Zhang Yunshe

　　A reporter asked: The State Administration of Foreign Exchange has just released the latest foreign exchange reserve scale data. What is the reason for the change in the scale of foreign exchange reserves in May 2020? What is the future trend of foreign exchange reserves?

　　Wang Chunying introduced that as of the end of May 2020, my country's foreign exchange reserves were 3101.7 billion US dollars, an increase of 10.2 billion US dollars from the end of April, an increase of 0.3%.

　　Wang Chunying pointed out that in May, my country's foreign exchange market operated stably, and foreign exchange supply and demand were basically balanced. In the international financial market, the dollar index fell slightly, and the asset prices of major countries rose. The combined effect of factors such as exchange rate conversion and changes in asset prices, the scale of foreign exchange reserves rose slightly during the month.

　　Wang Chunying said that at present, the global epidemic situation and the world economic situation are still grim and complex, geopolitical risks are rising, and the turmoil in the international financial market is intensifying. As my country's overall efforts to promote epidemic prevention and control and economic and social development have achieved positive results, my country's economic operation is gradually recovering towards normalization. Looking ahead, the basic characteristics of my country's economic potential, resilience, large room for maneuver, and many policy tools have not changed, and it will continue to support the overall stability of foreign exchange reserves.