Economics
China Reserves, Exports Show Stabilization as Growth Slows
- Currency hoard rose $7.089 billion to $3.22 trillion in April
- Shipments up 4.1% in yuan terms, down 1.8% in dollar terms
China's Economy: Are There Signs of Stability
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China reported a modest stabilization in exports this weekend as the value of the currency decreased, as well as the first back-to-back gain in foreign reserves in almost two years, suggesting the economy is steadying amid slowing growth.
The world’s largest currency hoard rose $7.089 billion to $3.22 trillion in April, the People’s Bank of China said Saturday. Overseas shipments rose 4.1 percent in yuan terms from a year earlier yet fell 1.8 percent in dollar terms, the customs administration said Sunday. Imports slumped 10.9 percent in dollars to leave a trade surplus of $45.6 billion.