China’s Forex Reserves Rise To 3.238 Trln USD

China’s forex reserves totaled 3.238 trillion U.S. dollars as of the end of December 2023, rising by 66.2 billion U.S. dollars, or 2.1 percent compared to the end of November, according to data released on Sunday by the State Administration of Foreign Exchange (SAFE).

In a statement, the SAFE said that, affected by factors such as the monetary policies of the world’s major economies as well as expectations, “the U.S. dollar index saw a decline in December while global financial asset prices generally increased”.

The Chinese economy continues to pick up and improve as high-quality development is solidly advanced, which will provide support for the stability of the nation’s foreign exchange reserves, it added.

Chinese news agency/Jamiu Ogunshe