In May 2025, China’s foreign exchange reserves experienced a rise of USD 3.6 billion, reaching USD 3.285 trillion, up from USD 3.282 trillion in April. This marks the highest level observed since December 2015. This increase occurred as the U.S. dollar weakened compared to other major currencies. According to a statement by China’s State Administration of Foreign Exchange, the growth in reserves can be attributed to “the combined effects of factors such as exchange rate conversion and asset price changes.” During this period, the yuan depreciated by 1.05% against the dollar, while the dollar decreased by 0.23% against a basket of other major currencies.
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