New Reserves In September Hit A New High Since 1997

Yesterday, the central bank released statistics show that as of the end of 9, the state foreign exchange reserve The balance was $26483 billion, up 16.5% over the same period last year. At the same time, September Newly added Foreign exchange reserves amounted to US $100 billion 500 million since January 1997. Monthly high 。

At the end of 6 this year, China's foreign exchange reserves amounted to 24543 billion US dollars. Therefore, China's foreign exchange reserves increased by 194 billion US dollars in the three quarter, a substantial increase of 186 billion 800 million US dollars over the two quarter. In the single month, 7, 8 and September increased by 84 billion 600 million, 8 billion 900 million and 100 billion 500 million US dollars respectively. The size of the new foreign exchange reserve in September was the highest monthly since January 1997, breaking for the first time by 100 billion US dollars.

The latest research report of the bank said that FDI remained stable and the recovery of trade surplus was the main reason for the increase in foreign exchange reserves. The increase in foreign exchange reserves is also related to the appreciation of the euro against the US dollar. In the three quarter, the euro appreciated more than 10% against the US dollar.

According to the report, the increase in foreign capital inflows in the three quarter is also an important reason for the increase in foreign exchange reserves from the difference between FDI and trade surplus.

Analysts believe that all countries in the world are competing for the sound of currency depreciation. Over the past few years, the pressure on RMB appreciation has been increasing, and RMB assets have become the most promising assets. Coupled with the loose monetary policy of the Federal Reserve, this led to the inflow of foreign capital.

Data released by the central bank yesterday also showed that China's gold reserves reached 33 million 890 thousand ounces as at the end of 9, which did not change compared with the end of June.

Chart 2010 list of China's foreign exchange reserves

Month amount (US $100 million)

124152.21

224245.91

324470.84

424905.12

524395.06

624542.75

725388.94

825478.38

926483.03