At the end of May, foreign exchange reserves reached 3101.7 billion US dollars
People's Daily, Beijing, June 7: A reporter learned from the State Administration of Foreign Exchange on the 7th : As of the end of May, China'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%.
Regarding the reasons for the slight increase in the size of foreign reserves, Wang Chunying, spokesperson and chief economist of the State Administration of Foreign Exchange, explained 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.
According to reports, with my country's overall efforts to promote epidemic prevention and control and economic and social development work have achieved positive results, economic operations are gradually recovering towards normalization. The basic characteristics of my country’s economic potential, resilience, room for maneuver, and many policy tools have not changed, and it will continue to support the overall stability of the scale of foreign exchange reserves. (Reporter Ge Mengchao)
"People's Daily" (June 08, 2020 02 edition)