China’s Forex Reserves Fall Below $3 Trillion in January
(Beijing) — China’s foreign exchange reserves broke the psychological “comfort level” of $3 trillion in January for the first time in nearly six years, official data showed Tuesday, but the decrease slowed sharply on a weakened U.S. dollar and Beijing’s measures to stem capital flight.
The country’s stockpile of foreign currency dropped for the seventh straight month in January to $2.9982 trillion from $3.0105 trillion in the previous month, data published by the People’s Bank of China (PBOC) showed.
- 1China Asks Banks to Assess Credit Risks Linked to Firms Active in Overseas Deals
- 2Beijing Is Soaking Wet
- 3Authorities Investigate Claims of Cadmium-Laced Wheat From Central China
- 4Weibo and Other Websites Barred From Video Streaming by Authority
- 5Real Estate Tycoon Removed as Political Adviser Over Bribery Allegation