Slower growth in forex reserves to be 'new normal'  

中國外儲余額下降千億美元 增長放緩將成新常態

昨日，國家外匯管理局發布數據顯示，今年三季度，中國外匯儲備余額3.89萬億美元，這個數字比今年二季度末下降了1000億美元，超出市場預期。在昨日上午舉辦的前三季度外匯收支數據發布會上，國家外匯管理局國際收支司司長管濤表示，外匯儲備增長放緩將成為新常態。[查看全文]

(ECNS) -- China's foreign currency regulator on Thursday explained the recent decline in forex reserves, saying slower growth would become the new normal.

The country's foreign exchange reserves, the world's largest, fell by about $100 billion in the third quarter to $3.89 trillion at the end of September, according to data from the State Administration of Foreign Exchange (SAFE), the government's foreign exchange regulator.

Guan Tao, head of the department of international payments at SAFE, said the decline was mainly caused by a recent rise in the US dollar against other major currencies.

In fact, China's foreign exchange reserves have been falling this year at a moderate rate, he added, and slower growth would be the "new normal" for the country's forex reserves.

"We don't follow the more-the-better principle," said Guan, who stressed that the decline is in line with the country's macro-control targets.

It shows that China is approaching the international balance of payments, he added.