Safe: As Of The End Of May, The Scale Of Foreign Exchange Reserves Was 322.8 Billion US Dollars

(source: People's daily, people's daily) According to the State Administration of foreign exchange, as of the end of May, the scale of China's foreign exchange reserves was 322.8 billion US dollars, up 23.6 billion US dollars or 0.74% compared with the end of April.

What are the reasons for the change of foreign exchange reserve scale in May? Wang Chunying, deputy director of the State Administration of foreign exchange and spokesman, said that in May, the operation of the foreign exchange market continued to be stable, and the market transactions generally remained rational and orderly. In the international financial market, affected by the new pneumonia epidemic and vaccine progress, major countries' monetary policies and inflation expectations, macroeconomic data and other factors, non US dollar currencies generally strengthened, and the prices of financial assets in major countries rose. Foreign exchange reserves are denominated in US dollars. The amount of foreign exchange reserves increases after non US dollar currencies are converted into US dollars. Combined with the changes in asset prices and other factors, the scale of foreign exchange reserves rose in the current month.

Wang Chunying said that the current overseas epidemic of new crown pneumonia is still continuing, and the global economic and financial situation is still facing many unstable and uncertain factors. But this year, China's economy as a whole continues to maintain a stable recovery trend, and its development momentum has been continuously enhanced, which will continue to provide support for the basic stability of the scale of foreign exchange reserves.