China's foreign exchange reserves the largest in the world for 17 consecutive years

2022-10-21 Editor : Wang Kai ECNS App Download
Special: 20th CPC National Congress

A group interview was hosted by the Press Center for the 20th CPC National Congress on Thursday. Pan Gongsheng, vice-governor of the People's Bank of China, said that the international competitiveness and influence of China's financial industry have been greatly improved over the past decade.

At present, the total assets of China's banking industry ranks first in the world. The scale of stocks, bonds and insurance ranks second in the world, and the scale of foreign exchange reserves ranks first in the world for 17 consecutive years.

The international status of the Renminbi has risen significantly. Renminbi holds the third-largest share in the International Monetary Fund's Special Drawing Rights basket. More than 80 countries and economies around the world include the RMB as a reserve currency.


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