China News Agency, Beijing, October 7 (Reporter Xia Bin) China’s State Administration of Foreign Exchange (hereinafter referred to as the “Foreign Exchange Administration”) released data on the 7th, showing that as of the end of September 2020, China’s foreign exchange reserves amounted to 3142.6 billion US dollars, compared with 8. At the end of the month, it fell by US$22 billion, a decrease of 0.7%.

The decline in the scale of foreign exchange reserves in September ended the previous five-month continuous upward trend.

　　As of the end of September 2020, China’s gold reserves were 62.64 million ounces, the same for 12 consecutive months; in terms of SDR (Special Drawing Rights), China’s foreign exchange reserves stood at 2,232,608 million SDR, an increase of 2,302 million SDR from the end of August.

　　Wang Chunying, deputy director of the Foreign Exchange Administration and spokesman, said that in September, China's foreign exchange market basically balanced supply and demand, and cross-border capital flows were generally stable.

In the international financial market, the US dollar index rose slightly due to the repeated outbreaks of new crown pneumonia overseas, the monetary and fiscal policies of major countries, and the rise and fall of asset prices were mixed.

The combined effect of exchange rate conversion and asset price changes has resulted in a decrease in the scale of foreign exchange reserves that month.

　　Wen Bin, chief researcher of China Minsheng Bank, believes that monthly fluctuations in the scale of foreign exchange reserves are normal when the epidemic has led to uncertain global economic recovery prospects, increased financial market volatility, and more frequent cross-border capital flows.

In the next stage, China's foreign exchange reserves will continue to remain stable.

As China's economy gradually stabilizes and rebounds, more positive improvements continue to emerge, and the macroeconomic stability and improvement will lay the foundation for maintaining a stable scale of foreign exchange reserves.

　　Wen Bin also pointed out that the steady progress of various domestic reform measures and the gradual expansion of high-quality opening to the outside world will provide more favorable conditions for trade and investment facilitation, which will help promote the balance of cross-border capital flows and maintain the smooth operation of the foreign exchange market. , To provide a basis for maintaining a stable scale of foreign exchange reserves.

However, we must also see that the world economic situation is still complex and changeable, and we must actively prepare for various difficulties and challenges.

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