NEWS： The increase in China's foreign reserves in November was mainly due to US moneta
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Wang Chunying, a spokesman for the State Administration of Foreign Exchange, said on Friday that China's balance of payments continued to run smoothly in November. Influenced by the anticipated changes in US monetary policy and fluctuations in international oil prices, the bond prices of major countries rose slightly on the whole, while the US dollar index fluctuated slightly. The scale of foreign exchange reserves has risen due to the combined effects of exchange rate conversion and asset price changes.
In response to a reporter's question on the scale change of foreign exchange reserves in November 2018, SAFE's website said that since this year, the uncertainties in the external environment have increased significantly, but China's economic operation has remained generally stable, stable and progressive, the two-way floating elasticity of the RMB exchange rate has increased, and the supply and demand of the foreign exchange market has basically balanced. Cross-border capital flows are generally stable.
Looking ahead, although the global economy and finance are facing more uncertainties, the fundamentals of China's long-term economic improvement have not changed. As China continues to expand its reform and opening up, the momentum and momentum of economic development will be further strengthened, which will consolidate the foundation for the overall stability of the foreign exchange market.
"The scale of China's foreign exchange reserve is expected to remain stable in the fluctuation due to the combined effect of internal and external factors." Wang Chunying said.
At the end of November 2018, China's foreign exchange reserves amounted to $3,061.7 billion, an increase of $8.6 billion, or 0.3 percent, over the end of October.
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