China's foreign exchange reserves have remained above 3.2 trillion U.S. dollars for more than nine consecutive months, official data showed on Saturday.
The amount totaled 3.2882 trillion U.S. dollars at the end of August, an increase of 31.8 billion U.S. dollars, or 0.98 percent compared to the end of July, the State Administration of Foreign Exchange (SAFE) said.
Due to factors such as macroeconomic data, monetary policies and expectations in major economies, the U.S. dollar index declined while global financial asset prices generally increased in August, experts say.
"China's export structure continues to improve, the proportion of general trade has steadily increased, the competitiveness of 'new trio' and other products has gradually strengthened, the policy dividends of free trade zones have continued to be released, new foreign trade formats such as cross-border e-commerce and offshore trade have continued to emerge, and economic and trade cooperation with countries participating in the Belt and Road Initiative is increasingly deepening," said Wen Bin, the chief economist of the China Minsheng Bank.
China's economic operation is generally stable and has made steady progress, which will help sustain the stability of the country's foreign exchange reserves.
"At the same time, as China's high-level financial opening up steadily expands, foreign institutional investors continue to be optimistic about China's capital market, and the amount of Chinese bonds they hold has reached a record high, which also provides support for the stability of our scale of foreign exchange reserves," Wen said.
China's forex reserves remain above 3.2 trillion US dollars
