China's foreign exchange reserves increased to $3.193 trillion at the end of June, compared to $3.1765 trillion recorded in the previous month.
The State Administration of Foreign Exchange attributed the rise in foreign exchange reserves to the combined effects of currency conversion and changes in asset prices.
China's state news agency Xinhua quoted the administration as saying that the U.S. dollar index witnessed a decline in June, while global asset prices saw fluctuations, affected by the monetary and fiscal policies of major economies, in addition to global macroeconomic data.
The administration expects that China's foreign exchange reserves will remain generally stable as the country sees a trend towards economic recovery and the continued push for high-quality development.
The data showed that the size of China's gold reserves rose to 67.95 million ounces at the end of last June, compared to 67.27 million ounces recorded at the end of May.
In summary, China's foreign exchange reserves and gold holdings expanded in June due to currency conversion effects and rising prices of foreign assets. The administration expects the reserves to remain stable as the economy recovers and develops.
