According to the data released by the State Administration of foreign exchange on April 7, by the end of March 2022, the scale of China's foreign exchange reserves was 3188 billion US dollars, a decrease of 25.8 billion US dollars or 0.8% compared with the end of February. Insiders said that the change of foreign exchange reserves in March was mainly affected by valuation factors. Looking forward to the future, the scale of China's foreign exchange reserves will continue to remain stable. Wang Chunying, deputy director of the State Administration of foreign exchange and spokesman, said that in March 2022, China's cross-border capital inflows generally rebounded, and the supply and demand of the foreign exchange market continued to be basically balanced. Novel coronavirus pneumonia and the new crown pneumonia epidemic are the main factors affecting the international financial market. The US dollar index has risen and the prices of major state bonds have declined. March data showed that in terms of currency, the US dollar exchange rate index rose 1.7% to 98.3; Among non US dollar currencies, the euro fell 1.4%, the pound fell 2.1% and the yen fell 5.5%. In terms of assets, the hedged Global Bond Index denominated in US dollars fell 2.2%; The S & P 500 stock index rose 3.6%, the euro zone Stoxx 50 index fell 0.6% and the Nikkei 225 index rose 4.9%. Due to the combined effect of exchange rate conversion and asset price changes, the scale of foreign exchange reserves decreased. "Foreign exchange reserves are denominated in US dollars. After non US dollar currencies are converted into US dollars, the amount decreases. Combined with factors such as changes in asset prices, the scale of foreign exchange reserves decreases in the current month." Wang Chunying said. Looking to the future, Wang Chunying said that the current global epidemic is still in the pandemic stage, the external environment is becoming more complex and severe, and the volatility of the international financial market is increasing. However, China adheres to the general tone of seeking progress while maintaining stability and coordinates epidemic prevention and control and economic and social development. The fundamentals of strong economic resilience and long-term improvement will not change, which will support the overall stability of the scale of foreign exchange reserves. Wen bin, chief researcher of China Minsheng Bank, said that in the future, the scale of China's foreign exchange reserves will continue to remain stable, and the long-term fundamentals of China's economy have not changed. "But at the same time, we should also see that the current international geopolitical conflicts are still continuing, the prices of bulk commodities such as food, energy and metals continue to rise, and global inflation remains high. The Federal Reserve may raise interest rates by a larger margin and shrink its watch. These factors may exacerbate the volatility of the global financial market and have spillover effects on China. China's macro policies should adhere to the tone of stability and seeking progress while maintaining stability, and focus on China In order to pay attention to the situation and policy changes, study and formulate response plans, timely introduce measures conducive to the stability of market expectations, deal with various risk shocks, and maintain the basic stability of the scale of foreign exchange reserves. " (Xinhua News Agency)