Forex Reserves
China’s foreign exchange (forex) reserves totaled $3.3387 trillion as of late September, up $16.5 billion, or 0.5 percent, compared to the end of August, official data showed on October 7.
The State Administration of Foreign Exchange attributed the increase to the combined impact of currency translation and changes in asset prices.
In September, the U.S. dollar index, a measure of the value of the U.S. dollar relative to a basket of foreign currencies, experienced mild fluctuations, while global financial asset prices generally rose, the administration said.
Supported by a steady economy, China remains well-positioned to maintain the overall stability of its forex reserves, according to the administration.
AI Industry
China’s AI sector has seen robust growth, with the number of enterprises exceeding 5,300 as of September, accounting for…