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©Reuters. China’s foreign exchange reserves rise 1.1% in July
Shanghai (China), Aug 7 (.).- China’s foreign exchange reserves increased by 1.07% month-on-month in July to 3.104 trillion dollars, the State Administration of Foreign Exchange (SAFE) reported today.
The increase compared to June was about 32.8 billion dollars, the institution said in a statement posted on its website.
SAFE deputy director-general and chief spokesperson Wang Chunying explained that the rise was due to the “combined effect of changes in foreign exchange rates and asset prices” in a context of growth in and exchange rates. in the monetary policies of the main countries in the face of current growth and inflation expectations.
In July, Wang said, the supply and demand for foreign currencies in China remained “balanced.”
Despite this, the spokeswoman again warned of the volatility in international financial markets, although she continued to express her confidence in the resilience of the Chinese economy and that the levels of national foreign exchange reserves remain “stable”.
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