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

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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