China's March forex assets drop by US$35b to US$3.1 trillion

China's foreign exchange reserves shrank to US$3.17 trillion, or by US$35 billion, at the end of March from US$3.205 trillion at the end of February, official data showed Wednesday, state media reports.

The amount fell by 1.09 percent, from the end of February, according to the State Administration of Foreign Exchange.

In March, China's forex market was stable, with supply and demand of foreign exchange basically in balance, said spokesperson Wang Chunying.

The spokesperson attributed the decline in forex reserves to the combined effects of currency translation and changes in asset prices.