China's ten years · series of theme press releases 丨 my country's foreign exchange reserve scale has ranked first in the world for 17 consecutive years

Xinhua News Agency, Beijing, June 23 (Reporter Liu Kaixiong and Li Yanxia) In recent years, the scale of foreign exchange reserves in my country has remained above US $ 3 trillion. At the end of May this year, it exceeded 3.1 trillion US dollars. Economic and financial security important "stabilizers" and "cockpit stones".

This is the information that the reporter learned from the "China Ten Years" series of theme press conferences held by the Propaganda Department of the Central Committee of the Communist Party of China on June 23.

Wang Chunying, deputy director and spokesman of the State Administration of Foreign Exchange, said at the press conference that foreign exchange reserves assets achieved safety, flow, and value preservation and appreciation, and the management system of foreign exchange reserves with Chinese characteristics continued to improve.

Wang Chunying introduced at the press conference that my country's international revenue and expenditure is basically balanced and more stable, reflecting the positive progress of my country's accelerated construction of a new development pattern. The ratio of regular account surplus to GDP (GDP) remains in a reasonable range. Cross -border trade and investment and financing are more active, the scale of cross -border revenue and expenditure has increased rapidly, and the elasticity of the RMB exchange rate has increased, which has better played the role of automatic stabilizer to regulate international revenue and expenditure.

According to data from the Foreign Exchange Bureau, since 2012, the ratio of frequent account surplus to the same period of GDP is generally about 2%; as of the end of May 2022, the balance of foreign exchange reserves was 3127.8 billion US dollars. my country's foreign net assets have steadily increased. In the end of 2021, my country's foreign net assets were 1983.3 billion US dollars, an increase of 18%over the end of 2012.

When talking about opening up to the outside world, Wang Chunying said that the opening of capital projects has been steadily advanced and has achieved higher levels of exchanges. The cross -border allocation of assets in domestic residents has continued to expand, and the attraction of RMB assets has been significantly enhanced. Overseas investors have invested in my country's securities to exceed $ 2 trillion. The weight of the RMB in the International Monetary Fund's special withdrawal rights and currency baskets has further increased.

In addition, with the continuous and effective advancement of the "decentralization service" reform, cross -border trade and investment and financing are more convenient. At the same time, the uniform opening, orderly competition, and effective regulatory foreign exchange markets have been continuously improved, creating good conditions for efficient allocation of foreign exchange resources and management exchange rate risks. Wang Chunying said that there are more than 40 foreign exchange markets in my country's foreign exchange market, and transaction varieties cover international mainstream foreign exchange trading products. Since the 18th National Congress of the Communist Party of China, the transaction volume of the foreign exchange market has tripled, reaching US $ 36.9 trillion in 2021.

Wang Chunying said that in the next stage, the foreign exchange bureau will better coordinate development and security, and accelerate the improvement of the foreign exchange management system and mechanism that is adapted to the modernization of the national governance system and governance capabilities.

[Editor in charge: Zhao Wenhan]

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