China’s Foreign Reserves Exceed USD$3.18 Trillion at End of March


China’s foreign reserves edged lower in the month of March, yet leading analysts expect levels to remain stable going ahead.

As of the end of March China’s foreign reserves stood at USD$3.1880 trillion, for a decline of $25.8 billion, or 0.8%, compared to the end of February, according to figures released by the State Administration of Foreign Exchange (SAFE) on 7 April.

Wen Bin (温彬), chief researcher with Minsheng Bank (民生银行), said that the slight decline was due to valuation factors, but that in future China’s foreign reserves would remain stable due to the long-term stability of the Chinese economy.