China's forex reserves rise to $3.2457 trillion

BEIJING -- China's forex reserves totaled $3.2457 trillion as of the end of March, rising by 19.8 billion dollars, or 0.62 percent, from the end of February, according to data released Sunday by the State Administration of Foreign Exchange.

Affected by factors such as the monetary policies of major economies and macroeconomic data, the dollar index and global financial asset prices rallied in March, the administration said.

It attributed the increase in the scale of the country's foreign exchange reserves to the combined effects of currency translation and changes in asset prices and other factors.

The Chinese economy will continue to pick up, which is conducive to keeping the scale of foreign exchange reserves generally stable, it added.

Wen Bin, chief economist at China Minsheng Bank, said with the support of good economic foundations and strengthened policies to stabilize foreign investment, among other factors, the scale of China's forex reserves will continue to be generally stable.