China’s Foreign Reserves Rise 0.3% to USD$3.1123 Trillion at End of June

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Official data points to ongoing gains in China’s foreign reserves in the month of June.

Figures from the State Administration of Foreign Exchange (SAFE) released on 7 July indicate that as of the end of June China’s foreign reserves stood at USD$3.1123 trillion, for an increase of $10.6 billion, or 0.3%, compared to the end of May.

SAFE spokesperson Wang Chunying (王春英) said that the June increase was the result of shifts in exchange rates and asset prices that month, as a result of the ongoing spread of the COVID-19 pandemic and the monetary and fiscal policies adopted by major economies in response.

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