China's foreign exchange reserves remain above $3.2t for 16 months

BEIJING -- China's foreign exchange reserves have remained above $3.2 trillion for 16 straight months, official data showed Monday.

The reserves amounted to $3.24 trillion at the end of March, up by $13.4 billion, or a 0.42-percent rise, from the previous month, according to the State Administration of Foreign Exchange (SAFE).

The SAFE attributed the steady performance to the overall stability and continued recovery of the Chinese economy, the effect of existing and new policy measures, and progress in high-quality development.

Analysts believe the country's strong foreign exchange holdings reflect sturdy external balances and resilient economic fundamentals -- serving as a critical buffer against global turbulence.

Thanks to diversified trade partnerships, structural upgrades in foreign trade, and the rising appeal of yuan-denominated assets, China's balance of payments is poised to remain stable, reinforcing the foundation for steady foreign exchange reserves, said Wen Bin, chief economist at China Minsheng Bank.