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China’sDecemberforexreservesreturntoabove$3.2trillion;Guangdongseesenergystorageprojectfilingsquadruplein2024'sfirstweek.Here’swhatyouneedtoknowaboutChinainthepast24hours

China'sforeignexchangereservesreachedatwo-yearhighof$3.238trillionasoftheendoflastyearwhilegoldreservesincreasedforthe14thconsecutivemonth,theStateAdministrationofForeignExchangesaid.

Thecountry'sforexreserveswereupby$66.2billion,or2.1percent,comparedwiththeendofNovember,SAFEsaidonSunday,markingthesecondconsecutivemonthofincreaseandhittingthehighestlevelsinceDecember2021.

ExpertssaidthelatestfiguresreflectthedynamicsofChina'sindigenousgrowthdriversandthevibrancyofthecountry'sforeigntrade.Theampleforexreserveswillalsoenablethecountrytobetterrespondtoexternaluncertaintiesthisyear,furtherconsolidatingthemomentumofrecovery.

Forthefullyearof2023,thecountry'sforexreservesroseby$110.29billionwhilegoldreserveswereupby7.23millionounces.

TheSAFEattributedtheincreasetothecomprehensiveimpactofexchangerateconversionsandchangesinassetprices.ThepricesofglobalfinancialassetsincreasedversusadeclineintheUSDollarIndexinDecember.

In2023,China'sinternationalbalanceofpaymentsremainedbasicallystableamidcomplexcircumstances.Foreignexchangereservesstayedabove$3.1trillionthroughouttheyear,accordingtotheSAFE.Theefficiencyofforexmanagementservicesfortherealeconomyhascontinuedtoimprove,andforexsupervisionhasbecomemorepreciseandeffective,itadded.

TheadministrationsaidthatChina'scontinuedeconomicrecoveryandhigh-qualitydevelopmentwillprovidesolidsupportforthestabilityofthecountry'sforexreserves.

Meanwhile,China'sofficialgoldreservesreached71.87millionouncesattheendofDecember,upfrom71.58millionouncesamonthearlier,markingthe14thconsecutivemonthofincrease,accordingtoSAFE.

TheCivilAviationAdministrationofChina(CAAC)saidonSaturdaythatitaimstosignificantlyincreasethenumberofdirectflightsbetweenChinaandtheUSin2024.CAACdatashowedthatregulardirectpassengerflightsbetweenChinaandtheUShaverisento63perweek.Accordingtoapreviousannouncement,theyareexpectedtoriseto70aweekduringthewinter/springseason.Movingontoregionalhighlights

TheXihoumenHighwayandRailwayBridgeinEastChina'sZhejiangProvincemarkedphasedprogresswhen18drillpilesbelongingtopierNo5ofthebridge,eachwithadiameterof6.3meters-theworld'slargest-wereinjectedwithcementonSunday.TheXihoumenHighwayandRailwayBridge,dubbedtheworld'slongestsupersea-crossingbridgewithatotallengthof3,118meters,andconnectingZhoushan'sJintangandCeziislands,isamongatotalof10landmarkprojectsZhejiangProvinceisundertakingtoboostregionalconnectivity.AirportsinXinjiangandXizangwelcomedrecordvolumesofpassengerthroughputin2023.Asoftheendoflastyear,XinjiangAirportGroupreportedrecordhighofpassengerthroughputof40.61millionandfacilitated490,000takeoffsandlandings,returningto108.2percentand113.2percentof2019levels,respectively.Xizang’scivilaviationregulatoralsoreportedarecord6.9millionpassengertripsin2023,representinggrowthof106.1percentover2022.BlossomsShanghai,aTVseriessetin1960sand1990sShanghai,hassucceededinspurringconsumptionatthehistoriclocationsthatfeatureinthedrama.Tourism-relatedsearchesfortheFairmontPeaceHotelsurgedmorethanfive-foldfromDec.27toJan.5comparedwiththeprevious10days,accordingtoChineseonlinetravelagencyTongcheng.AndsearchesforNanjingRoadPedestrianStreet,whichisroundthecornerfromtheFairmontPeaceHotel,soared73percent.Whilesearch