Wang Chunying, deputy director of the China State Administration of Foreign Exchange, said on Sunday (August 7) that the Chinese foreign exchange market was generally stable in July, and domestic foreign exchange supply and demand were basically balanced.
Wang Chunying, a spokesman for the State Administration of Foreign Exchange, also answered reporters that as of the end of July 2022, the scale of Chinese foreign exchange reserves was 310.41 billion US dollars, an increase of 32.8 billion US dollars from the end of June, an increase of 1.07%.
Wang Chunying explained that the scale of foreign exchange reserves in July will rise, because the converts of exchange rates and asset price changes will be comprehensive.
"In the international financial market, affected by factors such as monetary policy, economic growth prospects, and inflation expectations of major countries, the US dollar index rises, and the global major financial asset prices have risen overall."
Wang ChunyingyingIt is pointed out that the current global economic situation is full of challenges, unstable and uncertain factors have increased significantly, and the international financial market is more volatile.However, China's efficient coordinating epidemic prevention and control and economic and social development, strong economic toughness, great potential, and dynamic, long -term good fundamentals will not change, and will continue to support the overall stability of the scale of foreign exchange reserves.
