SMM News: according to the central bank's updated official reserve balance sheet, China's foreign exchange reserves rose to $3.1 trillion in May, surpassing the median Bloomberg forecast of $3.09 trillion, according to the central bank's updated official reserve balance sheet, which showed that China's foreign exchange reserves rose to $3.1 trillion in May, surpassing the median Bloomberg forecast of $3.09 trillion, according to the central bank's updated official reserve balance sheet. This is an increase of 6.1 billion US dollars from 3.09495 trillion US dollars in April. Reserves in May also hit the highest level since September last year. From September last year to May this year, the size of foreign reserves was less than $3.1 trillion.
"in May, multiple factors such as the escalation of global trade frictions and the uncertainty of Brexit pushed up risk aversion in the market, while the dollar index and the global bond index rose. With the combined effect of factors such as exchange rate conversion and changes in asset prices, the scale of foreign exchange reserves has increased slightly. " A spokesman for safe said: since the beginning of this year, China's economy has been running smoothly and steadily, the supply and demand of China's foreign exchange market has been basically balanced, the flow of cross-border funds through the main channels has remained stable, and the scale of foreign exchange reserves has risen steadily.
The central bank's official reserve balance sheet also showed gold reserves at 61.61 million ounces in May, up 510000 ounces from 61.1 million ounces in April and the sixth consecutive month of increase.
For the future, safe stressed that there are still many global political and economic uncertainties and that the volatility of international financial markets may increase. However, China's economic development has maintained sufficient resilience and great potential, and its ability to cope with external shocks has been continuously enhanced, and the situation for the better in the long run will not change. China's good economic fundamentals will provide strong support for the smooth operation of the foreign exchange market and provide a solid foundation for the overall stability of the scale of foreign exchange reserves.