The amount of external reserves in October was $3105.2 billion

The latest foreign exchange reserve size data released by the State Administration of foreign exchange showed that by the end of October 2019, China's foreign exchange reserve size had reached US $3105.2 billion, an increase of US $12.7 billion or 0.4% over the end of September. Wang Chunying, spokesman and chief economist of the State Administration of foreign exchange, explained the reasons for the changes in the scale of foreign exchange reserves in October. He said that the operation of China's foreign exchange market in October was generally stable. Influenced by the global trade situation, monetary policies of major central banks, the prospect of brexit and other factors, the U.S. dollar index fell, the prices of major countries' bonds fell, exchange rate conversion and asset price changes, etc As a result, the scale of foreign exchange reserves has increased. Wang Chunying pointed out that since this year, in the face of the complex situation of significantly increased international risks and challenges, China's economy has maintained an overall stable, steady and progressive trend, with main indicators in line with expectations and steady progress in structural adjustment. On this basis, China's cross-border capital flows remain stable, the supply and demand of the foreign exchange market are basically balanced, and the scale of foreign exchange reserves is rising steadily. Wang Chunying stressed that looking forward, the world economic growth is slowing down, and there are still many uncertain factors in the international financial market. However, the fundamentals of China's long-term economic growth remain unchanged, the reform and opening-up efforts continue to increase, the endogenous development momentum continues to increase, the ability to withstand various risks and challenges, and provide a solid foundation for the overall stability of foreign exchange reserves.