People's Daily Online, Beijing, April 7 (Reporter Du Yanfei) Data released today by the State Administration of Foreign Exchange show that as of the end of March 2026, my country's foreign exchange reserves have continued to stabilize at more than 3.3 trillion US dollars, and gold reserves have increased for 17 consecutive months.
Data show that as of the end of March 2026, my country's foreign exchange reserves were US$3,342.1 billion, a decrease of US$85.7 billion from the end of February, a decrease of 2.5%.
"In March 2026, affected by factors such as the global macro-environment, monetary policies and expectations of major economies, the U.S. dollar index rose and the prices of major global financial assets fell. The combined effect of exchange rate conversion and asset price changes and other factors led to a decrease in the scale of foreign exchange reserves that month." The relevant person in charge of the State Administration of Foreign Exchange said that my country's economic operation is generally stable and making progress, and high-quality development has achieved new results, providing support for the maintenance of basic stability in the scale of foreign exchange reserves.
Wen Bin, chief economist of Minsheng Bank, believes that since the beginning of this year, my country's export performance has far exceeded expectations, with a year-on-year growth rate of 21.8% from January to February. This is not only a reflection of the strength of foreign trade, but also the result of the diversification of my country's export market and the upgrading of the export commodity structure. In the context of oil prices affecting the global production and supply chain, my country's advantages in new energy manufacturing and the entire industrial chain have become more prominent. In terms of cross-border capital flows, as my country's service industry access continues to expand, institutional opening up steadily deepens, and the level of cross-border investment and financing facilitation continues to improve, foreign direct investment will maintain smooth operation; the valuation advantages and allocation value of RMB assets are highlighted, and securities investments will continue to inflow at a reasonable scale.
Gold reserves are an important part of the diversified composition of international reserves. Reserve asset data released by the State Administration of Foreign Exchange on the same day showed that as of the end of March 2026, my country's gold reserves were 74.38 million ounces, an increase of 160,000 ounces from the end of February, marking the 17th consecutive month of increasing gold holdings.
Industry insiders said that the People's Bank of China's continued increase in gold holdings will help diversify the foreign exchange reserve asset portfolio and ensure the safety and liquidity of foreign exchange reserves. At the same time, gold is a widely accepted means of final payment in the world. The People's Bank of China's increase in gold holdings enhances the credit of the sovereign currency and creates favorable conditions for steadily and prudently promoting the internationalization of the RMB.
The World Gold Council stated that in today's world situation, the role of gold as an effective portfolio diversification tool and uncertainty buffer tool has emerged.
