Original title: At the end of March, my country’s foreign exchange reserves rose to US$3240.7 billion
On April 7, the State Administration of Foreign Exchange (hereinafter referred to as the “State Administration of Foreign Exchange”) released the foreign exchange reserve scale data at the end of March 2025. As of the end of March 2025, my country’s foreign exchange reserves were US$324.07 billion, up 13.4 billion from the end of February, an increase of 0.42%.
The State Administration of Foreign Exchange stated that in March 2025, affected by factors such as macroeconomic data, fiscal and monetary policies and expectations of major economies, the US dollar index fell, and global financial asset prices generally fell. The combined effect of factors such as exchange rate conversion and asset price changes, the scale of foreign exchange reserves increased in the month.
As of now, my country’s foreign exchange reserves have stabilized at more than US$3.2 trillion for 16 consecutive months. Wang Qing, chief macro analyst of Oriental Jincheng, believes that according to different standards, my country’s current foreign exchange reserve scale of about US$3 trillion is at a moderately abundant level. It is expected that the decline of the US dollar index and the decline in the global financial market will also form a hedging effect in the short term, and the scale of my country’s foreign exchange reserves is expected to remain basically stable. This will provide a solid foundation for keeping the RMB exchange rate at a reasonable equilibrium level and become a “ballast stone” to resist various potential external shocks.
The State Administration of Foreign Exchange stated that my country’s economic operation is generally stable and steady, and a package of stock policies and incremental policies continue to make efforts and effective, and high-quality development is steadily promoted to provide support for the basic stability of the scale of foreign exchange reserves.
Wen Bin, chief economist of Minsheng Bank, told the Securities Daily reporter that although external instability and uncertainty factors have increased significantly, my country’s economic foundation is stable, has many advantages and great potential, and has sufficient macro-control reserve tools and policy space, which is conducive to releasing huge potential for domestic demand. my country’s balance of international payments will continue to remain stable, laying the foundation for the basic stability of the scale of foreign exchange reserves.
According to the gold reserve data released by the central bank, as of the end of March 2025, my country’s gold reserves were 73.7 million ounces, an increase of 90,000 ounces from 73.61 million ounces at the end of February. The central bank has expanded its gold reserves for five consecutive months.
Pang Ming, a special senior researcher at the National Finance and Development Laboratory, believes that in the long run, gold still has irreplaceable advantages in terms of hedging, anti-inflation, long-term preservation and appreciation, and the long-term trend of the central bank’s continued increase in holdings of gold will not change.
(Liu Qi)
[Editor in charge: Tu Tian]
