China's forex reserves rise in October

BEIJING - China's foreign exchange reserves rose to $3.0524 trillion at the end of October, up $23.5 billion from a month earlier, official data showed on Monday.

The volume went up 0.77 percent from the end of September, according to the State Administration of Foreign Exchange.

The foreign exchange regulator attributed the increase in foreign exchange reserves in October to the combined impact of currency translation and changes in asset prices.

Affected by monetary policy expectations and macroeconomic data of major countries, the US dollar index fell slightly and the prices of global financial assets were mixed last month, the regulator said.

It added that China's foreign exchange reserves are expected to stay generally stable with the support of the strong resilience, great potential, considerable wiggle room and sound long-term fundamentals of the Chinese economy.