China’s foreign exchange reserves rose to $3.1277 trillion at the end of December 2022, up 0.33 percent from the previous month, data released by the State Administration of Foreign Exchange on Saturday showed.
The foreign exchange regulator attributed the increase in reserves to the combined impact of currency translation and changes in asset prices.
Affected by monetary policy, expectations of major economies, and global macroeconomic data, the US dollar index fell and global financial asset prices fell last month, the administration revealed.
The agency added that China’s foreign exchange reserves should remain generally stable as the Chinese economy enjoys strong resilience, tremendous potential and great vitality, and the fundamentals underpinning its long-term growth remain strong.
