China Reserves Dip Below Critical $3 Trillion on Outflows: Chart

China’s foreign-exchange reserves dropped below $3 trillion at the end of January for the first time since 2011, crossing a threshold that some analysts saw as critical for investor confidence. Still, the $12.3 billion decrease was the smallest since July, as authorities tightened capital controls and a weaker dollar propelled a rebound in the yuan. The nation has lost a quarter of its reserves since they peaked in June 2014 as persistent currency weakness prompted firms to repay overseas debt and households to invest abroad.

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— With assistance by Sophie Caronello

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