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  • Beijing Review

    Record Stock

    Aug 20, 2020 4 minutes
    By Wang Jun
    Copyedited by Sudeshna Sarkar

    China’s foreign exchange reserves maintained growth for the fourth successive month in July, standing at $3.15 trillion, the highest level in 30 months with a month-on-month increase of 1.4 percent, figures from the State Administration of Foreign Exchange (SAFE) show.

    Wang Chunying, SAFE Deputy Administrator and spokesperson, attributed the rise to several factors. “The United States, the European Union and other major world economies intensified fiscal stimulus policies and maintained an ultra loose monetary policy,” he said in a press release. “Non-dollar currencies became stronger against the U.S. dollar in the international financial market, and

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