China Foreign Reserves Increased to $3.2 Trillion
China’s foreign exchange reserves increased to $3.209 trillion at the end of January, official data showed Friday after falling in December. The People’s Bank of China said that foreign exchange reserves edged slightly higher to $3.209 trillion in January 2025 from $3.202 trillion in December 2024 and above forecasts of $3.2 trillion.
The U.S. dollar index fell while global financial asset prices climbed last month, driven by macroeconomic data from major economies as well as monetary policies and expectations of key central banks, the State Administration of Foreign Exchange said in a statement.
The country’s reserves rose in January due to the combined effects of factors such as currency translation and changes in asset prices, according to the statement.
The fundamental conditions and long-term trends underpinning China’s economic growth remain strong. These factors will continue to support the stability of China’s foreign exchange reserves, the administration said.
The yuan weakened by 0.7%, while the dollar was little changed against major currencies. Meanwhile, gold reserves were at 73.45 million fine troy ounces, above 73.29 million in the previous month. Their value jumped to $206.53 billion from $193.43 billion, in line with a surge in gold prices. #China Foreign Reserves Increased to $3.2 Trillion Diri Signs 2025 Budget Into Law
