China's foreign exchange reserves totaled 3.26105 trillion U.S. dollars at the end of October, down by 55.317 billion dollars, or 1.67 percent, compared to the end of September, official data showed Thursday.
The State Administration of Foreign Exchange noted in a statement that the U.S. dollar index climbed and global financial asset prices declined last month due to monetary policy expectations and macroeconomic data in major economies.
"Due to the combined effects of factors such as currency translation and changes in asset prices, China's foreign exchange reserves shrank in October," the statement reads.
China is effectively implementing a host of policies to consolidate the momentum of economic growth, which will be conducive to maintaining the general stability of foreign exchange reserves, the administration said.
China's foreign exchange reserves drop to 3.26 trln USD
China's foreign exchange reserves drop to 3.26 trln USD
The Xiamen-Kinmen Bridge (Xiamen section) entered a new phase of marine construction on Monday morning, marked by the completion of the east tower's piling work of the Liuwudian Channel Bridge, a pivotal component of the project, in Xiamen of Fujian Province in east China.
The Xiamen-Kinmen Bridge (Xiamen section) spans 17.34 km and is designed to link the Xiamen island with the Xiamen Xiang'an International Airport that is currently under construction. The Liuwudian Channel Bridge is the province's first offshore suspension bridge and largest span bridge with a total length of 1,948 meters and a main span of 928 meters in length.
The pile foundation of the east bridge tower was completed on Monday after four months of work, while that of the west one is expected to finish at the end of this month.
Confronted with complex geological conditions and the challenge of transporting materials to the offshore construction site, the team newly built a large-scale mixing station and employed six rotary drilling rigs which operated around the clock.
With a total investment of 37.27 billion yuan (about 5.12 billion U.S. dollars), the Xiamen-Kinmen Bridge (Xiamen section) will become the most efficient connection between the Xiamen island and the Xiang'an Airport. Once completed, it will ease traffic congestion and greatly enhance transport efficiency in the region.
The Xiamen-Kinmen Bridge (Xiamen section) started construction in October 2023, and is expected to be completed simultaneously with the Xiang'an Airport Expressway in 2026.
Kinmen is an important hub for interaction across the Taiwan Strait. Growing trade and commercial links between Kinmen and Xiamen have made the building of the bridge a common desire of many people in the region.
Xiamen-Kinmen Bridge enters marine construction stage
