The Strategist

Chinese authorities report economic recovery

10/07/2022 - 10:08

According to Wang Chunying, deputy chairman of China's State Administration of Foreign Exchange Control, the Chinese economy is still growing despite rising market volatility.

Mstyslav Chernov
Mstyslav Chernov
Wang Chunying, quoted on the department's website, stated: "The current external environment is becoming increasingly complex and serious, instability and uncertainty factors in the global economy have increased markedly, and volatility in the international financial market has grown."

"China's overall economic recovery is continuing with solid economic stability, substantial potential, and vast room for maneuver," she continued.

She claims that everything involved supports the overall stability of the nation's foreign exchange reserves.

China's foreign exchange reserves were $3.029 trillion at the end of September 2022, according to the office, down $25.9 billion or 0.85% from the end of August.