At the end of August, the scale of foreign exchange reserves in my country was 3054.9 billion US dollars of cross -border funds flowing rationality and orderly

On September 7, the State Administration of Foreign Exchange announced the latest foreign exchange reserve scale data. Data show that as of the end of August 2022, the scale of foreign exchange reserves in my country was US $ 3054.9 billion, a decrease of US $ 49.2 billion from the end of July, a decrease of 1.58%.

Wang Chunying, deputy director and spokesman of the State Administration of Foreign Exchange, said that in August, the flow of cross -border funds was rational and orderly, and domestic foreign exchange supply and demand remained basically balanced. In the international financial market, affected by factors such as the expected and macroeconomic data of major countries, the US dollar index rose, and the global financial asset prices fell. Factors such as exchange rate converts and asset price changes have comprehensive effects, and the scale of foreign exchange reserves in the month has declined.

From the perspective of exchange rate factors, according to Wind data statistics, at the end of August, the US dollar index rose 2.29%from the end of July; among the non -US dollar currencies, the euro fell 1.66%, the yen fell 4.31%, and the pound fell 4.58%. In summary, the exchange rate factors lead to a large discount of non -US dollars in foreign exchange reserves.

From the perspective of asset price factors, the Federal Reserve ’s interest rate hike expects to rise in mid -August, causing the global market to shift from decline transactions to tightening transactions. The changes in asset prices in both aspects of stocks and bonds have caused a decline in asset valuation corresponding to foreign exchange reserves.

"At present, exchange rate factors and asset price factors are still the two main factors that affect my country's short -term fluctuations in the scale of China's foreign exchange reserves." Pang Ye, chief economist and director of the research department of the Greater China, told the Securities Daily reporter, " After removing the influence of exchange rate changes brought about by the continued strengthening of the US dollar index in August, and the adjustment of asset prices brought about by the global capital market trend, the size of the foreign reserves brought by the international revenue and expenditure remains stable, which shows that the overall stable operation of my country's foreign exchange market operation is generally stable. It reflects that my country's macroeconomic still maintains a stable situation.

Wen Bin, chief economist of Minsheng Bank, also believed in an interview with the Securities Daily reporter that after eliminating the exchange rate and asset price factors, it was estimated that the foreign reserves caused by international revenue and expenditure Steady, the domestic foreign exchange supply and demand remained basically balanced. The overall import and export trade surplus in August announced by the General Administration of Customs was US $ 79.39 billion. Although the surplus in July decreased by about 21.8 billion US dollars, it expanded by 34.1%year -on -year. From the absolute value, the surplus of nearly $ 80 billion in a single month is still high. Under the financial item, it is expected that direct investment will continue to continue net inflow, and together with the trade surplus of goods, it will provide strong support for the balance of payments in international revenue and expenditure.

"The current external environment is more complicated and severe, the global economic downward pressure has increased, and the international financial market has fluctuated violently. The scale of foreign exchange reserves remains stable. "Wang Chunying said.

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