China's forex reserves fall to $3.029 trillion

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China's forex reserves fall to $3.029 trillion

In this uncirculated photo, a clerk counts yuan bank notes and US dollar bills at a branch of the Industrial and Commercial Bank of China in Huaibei, East China's Anhui province. The data from the State Administration of Foreign Exchange shows that China's foreign exchange reserves were $3.029 trillion at the end of September, down $25.9 billion from the end of August.

In September, cross-border capital flows were generally stable and supply and demand in the domestic foreign exchange market remained balanced, said Wang Chunying, deputy director and spokesperson of the administration.

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Wang attributed the decrease in foreign exchange reserves to factors including exchange rate conversion and asset price changes.

The US dollar index rises and the price of global financial assets falls sharply on the global financial market.