China's foreign exchange reserves reach two-year high

China's foreign exchange reserves reached a two-year high of $3.238 trillion as of the end of last year.

The country's foreign exchange reserves were up by $66.2 billion, or 2.1 percent, compared with the end of November, SAFE said on Sunday, marking the second consecutive month of increase and hitting the highest level since December 2021.

China's foreign exchange reserves will likely see a moderate increase this year amid improving export growth and recovering capital inflows after hitting a two-year high in December, experts said on Monday.

The administration added that China's economic recovery and progress in high-quality development will help the country's foreign exchange reserves stay generally stable going forward.