China's foreign exchange reserves stood at CNY3.17 trillion at the end of March, down CNY35 billion or 1.09% from the end of February, according to the China State Administration of Foreign Exchange. The reduction was due to the gain in the U.S. dollar index and a fall in bond prices of major countries, said Deputy Director Wang Chunying. China's strengthening domestic economy will keep the scale of foreign exchange reserves stable, Wang said.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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Lachlan Colquhoun

Lachlan covers the Reserve Bank of Australia and the Australian macroeconomy for MNI from Sydney.

MNI Editorial 3

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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