China’s Foreign Exchange Reserves Surge by $11.3 Billion to Reach $3,204.3 Billion by July 2023’s End

Statistics from the State Administration of Foreign Exchange of China show that by the end of July 2023, China’s foreign exchange reserves were US$3,204.3 billion, an increase of US$11.3 billion, or 0.35%, from the end of June.

In July 2023, affected by the monetary policies and expectations of major economies, world macroeconomic data and other factors, the U.S. dollar index fell, and global financial asset prices generally rose.

Due to the combined effects of exchange rate conversion and asset price changes, the scale of foreign exchange reserves increased that month.

The fundamentals of China’s long-term improvement have not changed, which is conducive to maintaining the basic stability of the scale of foreign exchange reserves.