China's foreign exchange reserves at end-September were $3.029 trillion

　　China News Service, Beijing, October 7 (Reporter Xia Bin) According to data released by the State Administration of Foreign Exchange on the 7th, as of the end of September 2022, China's foreign exchange reserves were 3,029 billion US dollars, a decrease of 25.9 billion US dollars from the end of August, a decrease of 0.85%.

In addition, China's gold reserves are 62.64 million ounces; in terms of SDR (special drawing rights), China's foreign exchange reserves are 2,366.593 billion SDR.

　　Wang Chunying, deputy director of the State Administration of Foreign Exchange and spokesperson, said that in September 2022, cross-border capital flows were generally stable, and domestic foreign exchange supply and demand continued to be basically balanced.

In the international financial market, affected by the monetary and fiscal policies of major countries, macroeconomic data and other factors, the US dollar index rose further, and the prices of global financial assets fell sharply.

Due to the combined effect of factors such as exchange rate conversion and changes in asset prices, the scale of foreign exchange reserves decreased slightly in the month.

　　Wen Bin, chief economist of China Minsheng Bank, pointed out that in terms of currency, the US dollar exchange rate index rose 3.1% to 112.1 in September due to the interest rate hike by the Federal Reserve; among non-US dollar currencies, the euro fell 2.5%, the pound fell 3.9%, and the yen fell 4.0%.

In assets, the U.S. dollar-denominated index of hedged global bonds fell 3.2%; the S&P 500 stock index fell 9.3%, the euro zone Stoxx 50 fell 5.7% and the Nikkei 225 fell 7.7%.

　　Wang Chunying emphasized that the current external situation has become more complex and severe, the global economic instability and uncertainties have increased significantly, and the volatility of the international financial market has intensified.

However, the overall recovery trend of China's economy continues, with strong economic resilience, sufficient potential, wide room for manoeuvre, and long-term positive fundamentals will not change, which is conducive to the overall stability of the scale of foreign exchange reserves.

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