Central bank: Forex reserve to stay stable
China's foreign exchange reserve will basically remain stable given the stabilizing economic growth prospect and the stable foreign exchange rate, the central bank said on Friday.
Zhou Xiaochuan, governor of the People's Bank of China, said the country's foreign exchange reserve has been affected by international asset prices but there have not been any major changes in China's balance of international payments.
The country saw its foreign exchange reserve drop to the level of $3 trillion in January of last year and then it increased continuously over the past 12 months, according to Pan Gongsheng, vice-governor of the central bank and the head of the State Administration of Foreign Exchange.
Pan said China's economic fundamental and foreign exchange rate will stay relatively stable and the country's foreign exchange reserve will also remain basically stable.
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