China Dec fx reserves rise to $3.14 trln, highest since Sept 2016 – central bank
China’s foreign exchange reserves rose to their highest in more than a year in December and grew at a faster-than-expected pace, as tight regulations and a strong yuan continued to discourage capital outflows, data showed on Sunday. Notching up their 11th straight month of gains, reserves rose $20.2 billion in December to $3.14 trillion, the highest since September 2016 and the biggest monthly increase since July, central bank data showed on Sunday. Capital flight had been seen as a major risk for China at the start of 2017, but a combination of tighter capital controls and a faltering dollar helped the yuan stage a strong turnaround, bolstering confidence in the economy.
Source:: https://finance.yahoo.com/news/china-dec-fx-reserves-rise-062100403.html
