China’s Foreign Exchange Reserves Up 1.06 Percent in July

China's foreign exchange reserves totaled 3.2564 trillion US dollars as of the end of July, up by 34 billion dollars, or 1.06 percent compared to the end of June, the latest data showed. The State Administration of Foreign Exchange said in a statement that the US dollar index declined last month, while global financial asset prices generally increased influenced by factors like the macroeconomic data, monetary policies, and expectations in major economies, Xinhua reported. "Due to the combined effects of factors such as currency translation and changes in asset prices, China's foreign exchange reserves increased in July," the statement said. It added that China's economic operation is generally stable and has made steady progress, which will help sustain the stability of the scale of foreign exchange reserves in the country. Source: Qatar News Agency