China end of Octoberforeign exchange reservesIt was reported to be 32176.14 billion U.S. dollars, the previous value was 320.626 billion U.S. dollars, an increase of 16.988 billion U.S. dollars from the previous month.
China’s gold reserves at the end of October reported 62.64 million ounces, the same as last month.
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Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, answered reporters’ questions on the changes in the scale of foreign exchange reserves in October 2021
Question: The State Administration of Foreign Exchange has just released the latest data on the scale of foreign exchange reserves.Will cause2021year10What are the reasons for the change in the scale of monthly foreign exchange reserves? What is the future trend of the scale of foreign exchange reserves?
answer:As of the end of October 2021, my country’s foreign exchange reserves amounted to US$32176 billion, an increase of US$17 billion or 0.53% from the end of September.
In October 2021, the supply and demand of my country’s foreign exchange market will remain stable, and cross-border revenue and expenditure transactions will be rational and orderly.In the international financial market, affected by the progress of the new crown pneumonia epidemic, major countries’ fiscal policies andcurrencyInfluenced by policy expectations and other factors, the U.S. dollar index fell slightly, and the prices of financial assets in major countries were mixed. Foreign exchange reserves are denominated in U.S. dollars. Under the combined effect of exchange rate conversion and asset price changes, the scale of foreign exchange reserves increased during the month.
The current COVID-19 epidemic continues to recur, the global economic recovery is facing many unstable factors, and the international financial market is volatile. However, my country’s economy continues to recover, with strong resilience and huge potential, which will provide support for maintaining overall stability in the scale of foreign exchange reserves. (Source: State Administration of Foreign Exchange)
Bureau of Foreign Exchange: Direct investment net inflow of US$163.6 billion in the first three quarters
Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, said when answering reporters’ questions on the balance of payments in the first three quarters of 2021, preliminary data in the balance of payments showed that my country’s balance of payments in the first three quarters of 2021 Basically balanced.In the first three quarters, direct investmentNet inflowFor 163.6 billion U.S. dollars.
Wang Chunying said that among them, the current account surplus was 202.8 billion US dollars, compared with the same period.GDP(GDP) Ratio is 1.6%, which continues to be within a reasonable equilibrium range; direct investment shows a net inflow, cross-borderCash flowSmooth and orderly movement.
Specifically, the surplus in trade in goods increased year-on-year. In the first three quarters of 2021, the surplus of goods trade in the balance of payments was US$379.6 billion, a year-on-year increase of 16%. Among them, the export of goods trade was US$2.3 trillion, a year-on-year increase of 31%, reflecting the continued recovery of my country’s economy and laying the foundation for the continued growth of foreign trade, as well as the recovery of the global economy and trade and the increase in international demand. Imports of trade in goods amounted to US$1.9 trillion, a year-on-year increase of 34%, mainly due to the gradual recovery of domestic demand. At the same time, rising international commodity prices pushed up import prices.
In terms of service trade, Wang Chunying said that the service trade deficit has narrowed year-on-year. In the first three quarters of 2021, the service trade deficit was US$82.1 billion, a year-on-year decrease of 30%. Travel, intellectual property royalties and transportation are the main deficit items. Among them, the travel deficit was US$72.4 billion, a year-on-year decrease of 20%, mainly because the epidemic continued to inhibit the cross-border movement of people; income and expenditure of intellectual property royalties increased by 39% and 24%, respectively, and the deficit was US$26 billion, a year-on-year increase of 20%. As my country’s intellectual property trade continues to develop, international cooperation in the field of intellectual property continues to deepen; the transport deficit is US$17.7 billion, a year-on-year decrease of 42%, mainly due to the fact that transportation service revenue continues to grow faster than expenditure.
When it comes to direct investment, Wang Chunying said that direct investment has shown a large surplus. In the first three quarters of 2021, the net inflow of direct investment was US$163.6 billion. Among them, the net inflow of direct investment in China was US$249.1 billion, showing that foreign capital maintained confidence in investing in China; my country’s net outflow of foreign direct investment was US$85.5 billion, which remained stable.
“Overall, the fundamentals of my country’s long-term economic improvement have not changed, and the overall situation of deepening reform and opening up has not changed. This has provided a solid foundation for the smooth operation of my country’s current account and the continuation of the overall balance of international payments.” Wang Chunying said. (Source: China Securities Network)
(Article source: Central Bank website)
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