China's forex reserves down in January

(ECNS) -- China's forex reserves came in at 3.2193 trillion U.S. dollars at the end of January 2024, down 18.7 billion U.S. dollars or 0.59 percent from December 2023, according to the data from the State Administration of Foreign Exchange on Tuesday.

The decrease was attributed to an increase in the U.S. dollar index and mixed global financial asset prices.

China's economic recovery stayed stable and the fundamentals of the Chinese economy remained unchanged, providing support for the stability of the nation's foreign exchange reserves, said the administration.