China News Service, Beijing, December 7 According to data released by the State Administration of Foreign Exchange of China on the 7th, as of the end of November 2023, China's foreign exchange reserves were US$3,171.8 billion, an increase of US$70.6 billion, or 228%。In addition, China's ** reserves are 71.58 million ounces;In SDR (Special Drawing Rights) terms, China's foreign exchange reserves are 23,7894.1 billion SDRs.
According to the State Administration of Foreign Exchange, in November 2023, affected by macroeconomic data of major economies, monetary policy expectations and other factors, the US dollar index **, global financial assets **overall**. Factors such as exchange rate translation and changes in assets** combined to increase the scale of foreign exchange reserves in the month.
Wen Bin, chief economist of Minsheng Bank, pointed out that in November, in terms of currency, the US dollar exchange rate index (DXY) **30% to 1035. The overall appreciation of non-US dollar currencies. In terms of assets, the US dollar-denominated Barclays Global Aggregate Total Return Index USD Hedged**34%；S&P 500 Index 89%。As a result, China's foreign exchange reserves increased in the month.
He also mentioned that with the continuous implementation of a series of support policies since the third quarter, the endogenous momentum of China's economy has strengthened, the export situation has improved, the IMF (International Monetary Organization) raised China's GDP growth forecast for this year and next year in November, and the net ** and increased bond holdings of foreign institutions have shown a significant increase trend month by month, indicating that foreign capital has increased confidence in China's economic growth.
The State Administration of Foreign Exchange believes that China's economy continues to rebound, with strong economic resilience, full potential, wide room for maneuver, and long-term positive fundamentals have not changed, and will continue to support the scale of foreign exchange reserves to remain basically stable.
Reporter Shabin).