Markets
19:27, 07-Mar-2019
China's forex reserves edge up for 4th straight month
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China's foreign exchange reserves climbed by 2.3 billion U.S. dollars to the tune of 3.0902 trillion U.S. dollars by the end of February, official data showed Thursday. This growth tendency began last November.
The amount inched up 0.1 percent from the end of January, according to the State Administration of Foreign Exchange (SAFE).
Factors including the increase in the U.S. dollar index, changing asset prices, exchange rate conversion and asset price changes resulted in the slight gain of forex reserves, said SAFE spokesperson Wang Chunying.
"China's forex reserves were stable in February," Wang said, citing improving forex market expectations, cross-border capital flows and balance of payments.
Despite global economic and financial uncertainty, China will push forward supply-side structural reform to keep economic growth within a reasonable range, and the forex reserves will likely remain stable amid market fluctuations, Wang said.
Data from the People's Bank of China (PBOC) showed the country's gold reserves went up from January's 59.94 million ounces to 60.26 million ounces at the end of February, equivalent to around 79.5 billion U.S. dollars.
(With inputs from Xinhua)