China's forex reserves fall in September

BEIJING - China's foreign exchange reserves fell to $3.2006 trillion at the end of September, down $31.5 billion from a month earlier, official data showed Thursday.

The volume went down 0.97 percent from the end of August, said the State Administration of Foreign Exchange (SAFE).

Wang Chunying, deputy director and spokesperson of the SAFE, attributed the September decline in foreign exchange reserves to the combined impact of currency translation and changes in asset prices.

Affected by factors such as the resurgence of the COVID-19 pandemic and expectations for major countries' monetary policies, the dollar index increased, said Wang, adding that weakened non-dollar currencies and the change of asset prices led to the fall of China's foreign exchange reserves.