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Cross-border capital flows were generally stable in September

Date: 2022-10-09
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Official website, the State Administration of Foreign Exchange, recently released that as of the end of September 2022, China's foreign exchange reserves amounted to $3,029 billion, down by $25.9 billion or 0.85% from the end of August.

In September 2022, cross-border capital flows were generally stable, and domestic foreign exchange supply and demand continued to be basically balanced. In the international financial market, influenced by the monetary and fiscal policies of major countries, macroeconomic data and other factors, the US dollar index rose further, and the global financial asset prices fell sharply. Affected by factors such as exchange rate conversion and asset price changes, the scale of foreign exchange reserves decreased slightly in that month.

When answering a reporter's question, Wang Chunying, deputy director and spokesman of the State Administration of Foreign Exchange, said that the current external situation has become more complicated and severe, the uncertainties of global economic instability have obviously increased, and the volatility of the international financial market has intensified. However, China's economy generally continues to recover, and the fundamentals of strong economic resilience, sufficient potential, wide room for manoeuvre and long-term improvement will not change, which is conducive to the overall stability of foreign exchange reserves.


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