Forex reserves up in Jan

China's foreign exchange reserves went up to $3.18 trillion by the end of January, marking the fourth consecutive month of increase, the State Administration of Foreign Exchange said on Tuesday.

The amount marked an increase of $56.8 billion or 1.82 percent compared with the end of 2022, SAFE said in a statement, attributing the growth to a weaker US dollar and a rise in global financial markets.

The Chinese economy has recovered with growing endogenous momentum of growth conducive to keeping the amount of foreign exchange reserves stable, the statement added.