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China's foreign exchange reserve data released in January increased for three consecutive months (with interpretation)

February 11, 2019 17:00
source: First finance

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Summary
[External storage data] China's foreign exchange reserves in January was 307.792 billion US dollars, expected to be 308 billion US dollars, the former value of 3072.71 billion US dollars. (一财)

China Januaryforeign exchange reserves307.792 billion US dollars, expected to be 308 billion US dollars, the former value of 30,727.1 billion US dollars.

China’s foreign exchange reserves in January increased by 15.2 billion U.S. dollars, an increase of three consecutive months, and an increase of 11 billion U.S. dollars last month.

China's January foreign exchange reserves of 2.2045 trillion SDR, the former value of 2.2093 trillion SDR.

The central bank's gold reserves at the end of January were 59.94 million ounces, valued at $79.319 billion; at the end of December, the gold reserves were 59.56 million ounces.

  State Administration of Foreign Exchange spokesperson and chief economist Wang Chunying answered questions on the scale of foreign exchange reserves in January 2019

  Q: The latest foreign exchange reserve scale data released by the State Administration of Foreign Exchange shows that2019year1At the end of the month, China’s foreign exchange reserves are relatively2018year12Rising at the end of152One hundred million U.S. dollars. What is the reason for the change in the size of the foreign exchange reserve? What is the trend of future foreign exchange reserves?

  answer:As of the end of January 2019, China’s foreign exchange reserves stood at $3,087.9 billion, an increase of $15.2 billion from the end of December 2018, an increase of 0.5%.

In January 2019, China’s foreign exchange market was basically balanced in supply and demand, and cross-borderCash flowThe overall situation is stable. In the global financial market, mainly non-US dollarscurrencyRelative to the rise in the US dollar exchange rate, the price of financial assets has risen. Affected by valuation factors such as exchange rate conversion and asset price changes, the scale of foreign exchange reserves rose slightly.

At present, global economic growth is facing a downward pressure. The international environment is unstable and there are many uncertain factors. However, China's economy continues to maintain a stable overall trend, and the international balance of payments is in a state of independent balance, which is a stable scale for China's foreign exchange reserves. Provide a solid foundation.

Looking into the future, although the global economic and financial environment is complex and severe, China's economy will continue its long-term development trend, and all-round opening up will continue to advance. The foreign exchange market operation mechanism will be improved day by day, and conditions will ensure the overall stability of cross-border capital flows and the supply and demand of the foreign exchange market. Basic balance. The comprehensive role of domestic and foreign factors, China's foreign exchange reserves are expected to maintain overall stability in the volatility.

  [Extended reading]

  Guo Shuqing: Do a good job in the management of foreign exchange reserves to ensure economic and financial security

On the morning of February 1, Guo Shuqing, secretary of the Party Committee of the People's Bank of China, went to the China Interbank Market Dealers Association and the Central Foreign Exchange Business Center of the State Administration of Foreign Exchange.ResearchAnd visited the cadres and workers. Pan Gongsheng, member of the Party Committee of the People's Bank of China, deputy governor, party secretary and director of the State Administration of Foreign Exchange, accompanied the research and condolence activities.

In the China Association of Interbank Market Dealers, Guo Shuqing listened to the report on the comprehensive management of the party and related business, and learned more about the bond registration process and centralized bookkeeping, fully affirming the achievements of the interbank market development. Guo Shuqing pointed out that the Association of Dealers has been established for more than ten years, with rapid development and high quality of operation. At present, the global situation is complex and changeable, the domestic economy is running steadily, changing, and worrying. The self-discipline management of the interbank market faces new challenges. We must continue to study and implement Xi Jinping's new era of socialism with Chinese characteristics and the spirit of the 19th National Congress of the Communist Party of China. We will implement the major decision-making arrangements of the Party Central Committee, implement the overall responsibility of strictly administering the party and strictly strengthen the inter-bank market self-discipline. Management, adhere to the principles of marketization and rule of law, handle the relationship between development and risk prevention, and make positive contributions to stabilizing growth, promoting reform, restructuring, benefiting people's livelihood, and preventing risks.

At the Central Foreign Exchange Business Center of the State Administration of Foreign Exchange, Guo Shuqing listened to the report on the management of foreign exchange reserves in 2018. Guo Shuqing pointed out that in 2018, the Central Foreign Exchange Business Center, guided by Xi Jinping's new era of socialism with Chinese characteristics, conscientiously implemented the Party Central Committee's decision-making arrangements on foreign exchange management, and operated steadily to achieve a balance between foreign exchange reserve assets risks and returns. The 2019 anniversary of the founding of New China is a crucial year for building a well-off society in an all-round way. The Central Foreign Exchange Business Center must resolutely implement the requirements of comprehensively and strictly administering the party, closely focus on the three tasks of serving the real economy, preventing and resolving major financial risks, and deepening financial reforms, and do a good job in the management of foreign exchange reserves. Great achievements have been made in strategies and economic and financial security. (Source: People's Bank website)

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(Article source: First Finance)

                (Editor: DF075)

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