China's foreign currency reserves at $3.0549t

BEIJING - China's foreign exchange reserves totaled $3.0549 trillion at the end of August, down $49.2 billion from July, data from the State Administration of Foreign Exchange showed Wednesday.

"Cross-border capital flows were rational and orderly, and supply and demand in the domestic foreign exchange market remained generally balanced," said Wang Chunying, deputy director and spokesperson of the administration.

Wang attributed the decrease in foreign exchange reserves to factors including exchange rate conversion and asset price changes. On the global financial market, the US dollar index rises and the price of global financial assets declines under the influence of monetary policy expectations and the macroeconomic data of major countries.

Deeming the external situation complex and grim at present, Wang said the global financial market registers strong fluctuations amid increasing pressure on the global economy.

China has kept its economy operating in an appropriate range by effectively coordinating epidemic prevention and control with economic and social development, while implementing a raft of policies on stabilizing the economy. This helps keep its forex reserves generally stable, Wang added.