China's foreign exchange reserves reached 3.3164 trillion U.S. dollars as of the end of September, increasing by 28.2 billion U.S. dollars compared to the end of August, representing a growth rate of 0.86 percent, the State Administration of Foreign Exchange said on Monday.
In September, driven by factors such as the monetary policies and expectations of major economies' central banks, as well as macroeconomic data, the US dollar index has fallen, and the global financial asset prices have risen, said the administration.
The scale of foreign exchange reserves increased in September due to multiple factors including exchange rate conversions and changes in asset prices, according to the administration.
China's economy is operating steadily overall, making progress while maintaining stability. Favorable conditions such as strong economic resilience and great potential remain unchanged, providing continued support for maintaining the basic stability of foreign exchange reserves, said the administration.
China's foreign exchange reserves surpass 3.3 trillion US dollars in September
Various celebrations are being staged across China in anticipation of the fast-approaching New Year's Day and the upcoming Chinese New Year holiday, or Spring Festival, boosting the market for related goods as more revelers get into the festive spirit.
In Beijing, more than 1,000 lanterns themed around fashion and technology are offering a colorful display in the city's Wenyuhe Park, making it one of the largest lantern festivals in the city this year.
In Shanghai, business districts have launched a series of themed decorations, exhibitions, performances, and interactive activities. Local authorities have also distributed consumption coupons, further stimulating consumer spending during the New Year's Day holiday, which falls on Wednesday.
In the nearby city of Hangzhou in the eastern Zhejiang Province, several promotional activities have been introduced to boost consumption. Additionally, business areas and shopping streets have been upgraded to meet the consumer demand for high-quality goods.
Special Spring Festival fairs have also been set up across the country as Chinese people gear up for their largest annual celebration around the Chinese New Year, which lands at the end of January in 2025.
In Huaiyuan County of east China's Anhui Province, a local fair is attracting visitors with a variety of well-known agricultural products. In Zhangzhou City of the coastal Fujian Province, a one-stop feature fair allows both visitors and locals to purchase a wide range of items.
Meanwhile, in northeast China's Jilin Province, local authorities in the city of Ji'an have sought to take advantage of the snowy conditions by integrating winter sports, offering visitors the chance to enjoy a range of snow and ice activities while shopping for Spring Festival goods.
Additionally, flowers are in high demand at many marketplaces across China as more people look to prepare some floral decorations as part of the celebrations.
In Kunming of southwest China's Yunnan Province, a special flower street featuring Chinese New Year flowers has been set up, where over 15,000 flowers are available, including more than 120 varieties of orchids.
Local flower markets area also in full bloom in various other places, from the northern cities of Shijiazhuang and Taiyuan to Hetian in northwest China's Xinjiang Uygur Autonomous Region, all offering a wide variety of creative and unique flowers, which have been well received by residents.
New Year celebrations help boost market for festive goods
