China's forex reserves expand 1.82% in January

China's foreign exchange reserves stood at $3.18 trillion at the end of January, up 1.82 percent from a month earlier, official data showed on Tuesday.

The State Administration of Foreign Exchange attributed the rise to the combined effects of exchange-rate conversion and asset price changes.

The U.S. dollar weakened against other major currencies in January while global financial asset prices generally rise.

China's continued economic recovery and rising business vitality are conducive to keeping foreign reserves at a stable scale, according to the forex authority.

The country's economic activities bounced back fast after lifting pandemic restrictions, with factory and service sector activities returning to growth in January, official data showed.

(CGTN)