The State Administration of Foreign Exchange released data on the size of foreign exchange reserves

Statistics from the State Administration of Foreign Exchange show that as of the end of May 2023, China's foreign exchange reserves amounted to 3,176.5 billion US dollars, down 28.3 billion US dollars, or 0.88%, from the end of April.

In May 2023, influenced by the fiscal and monetary policy expectations of major economies, global macroeconomic data and other factors, the US dollar index (104.0488, -0.0848, -0.08%) rose, and global financial asset prices were mixed. Under the combined effect of exchange rate translation and asset price changes, the scale of foreign exchange reserves declined in the month. China's economic performance has continued to recover and improve, which is conducive to maintaining the basic stability of the foreign exchange reserves.