According to the statistics by the State Administration of Foreign Exchange (SAFE), by the end of May 2024, China’s foreign exchange reserves totaled USD 3.2320 trillion, up by USD 31.2 billion or 0.98% from April 2024.

In May 2024, the US dollar index fell, while global financial asset prices generally rose, influenced by factors such as monetary policy expectations and macroeconomic data in major economies. China’s foreign exchange reserves increased this month due to the combined effects of currency translation and changes in asset prices. China’s inherent driving force for the economy continues to strengthen, and the momentum for economic recovery is consolidating, which will support the sustained basic stability of the scale of foreign exchange reserves.