China's FX Reserves Reach $3.41T in July

Official data showed that China's foreign exchange reserves rose to $3.4188 trillion at the end of July, an increase of $2.5 billion (0.07%) compared to June. This modest growth is attributed to exchange rate fluctuations and asset price volatility. Additionally, Chinese Customs data revealed that foreign trade conducted in yuan increased by 19.2% year-on-year in July, with exports up by 17.8% and imports by 21.2%. The government indicated that the resilience of the Chinese economy and improvements in growth structure are contributing to maintaining the stability of foreign exchange reserves despite market volatility impacts.

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