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China's FX Reserves To Remain Stable In 2023 - Guan Tao

CHINA PRESS

China’s foreign exchange reserves will remain stable in 2023 despite weakening in the world economy and volatile international financial markets, according to Guan Tao, a former official at the State Administration of Foreign Exchange. In an interview with Financial News, he said China’s strong long term fundamentals together with the PBOC’s non-intervention policy in the FX market was conducive to maintaining overall stability in foreign exchange reserves, which remained above USD3 trillion throughout 2022. The paper also cited analysts that expect China to maintain a stable balance of payments amid a continuing current account surplus, and improvements in the capital and financial accounts.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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