China's Forex Reserves Hit USD3.35T in November
The State Administration of Foreign Exchange pointed to currency translation effects combined with shifting asset valuations as the primary drivers behind the expansion.
Global financial markets witnessed divergent performance in November as the U.S. dollar index weakened, influenced by macroeconomic indicators and shifting monetary policy outlooks among the world's largest economies, the administration observed.
The regulatory body emphasized that China's economic resilience provides a solid foundation for sustaining stable foreign currency reserve levels going forward.
The modest monthly increase reflects ongoing fluctuations in international currency markets and asset prices, even as Beijing maintains its position as holder of the world's largest foreign exchange reserves.
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