Foreign Exchange Bureau: As of the end of March, China’s foreign exchange reserves stood at US$3.170 billion

　　China News Service, April 7th. According to the website of the State Administration of Foreign Exchange on the 7th, Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, answered reporters' questions on the changes in the scale of foreign exchange reserves in March 2021.

Wang Chunying said that as of the end of March 2021, my country's foreign exchange reserves amounted to US$3.170 billion, a decrease of US$35 billion or 1.09% from the end of February.

Data map: Bank staff count currency.

Photo by China News Agency reporter Zhang Yun

　　A reporter asked: The State Administration of Foreign Exchange has just released the latest data on the scale of foreign exchange reserves.

What are the reasons for the change in the scale of foreign exchange reserves in March 2021, and what will be the trend of the scale of foreign exchange reserves in the future?

　　Wang Chunying introduced that as of the end of March 2021, my country's foreign exchange reserves were US$3.1700 billion, a decrease of US$35 billion or 1.09% from the end of February.

　　Wang Chunying said that in March 2021, my country's foreign exchange market will operate stably and foreign exchange supply and demand will be basically balanced.

In the international financial market, affected by factors such as the new crown pneumonia epidemic and vaccine progress, fiscal policies and monetary policy expectations of major countries, the US dollar index has risen, the bond prices of major countries have fallen, and the global stock market has generally risen.

The combined effect of factors such as exchange rate conversion and asset price changes led to a decline in the scale of foreign exchange reserves that month.

　　Wang Chunying pointed out that looking forward to the future, the overseas epidemic situation is still complicated and severe, and the global economic recovery and international financial markets are still facing many uncertain and unstable factors.

However, my country's domestic economic development momentum continues to increase, and positive factors have increased significantly, which is conducive to maintaining the basic stability of the scale of foreign exchange reserves.