China Reserves Rise a Third Month Amid Tighter Capital Controls
- Stockpile increased $20.4 billion to $3.03 trillion in April
- Stricter curbs on moving money out of China shore up holdings
China FX Reserves Rise for Third Month
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China’s foreign-exchange reserves rose for a third month in April, exceeding estimates, as tighter capital controls kept money from flowing out of the country and the yuan held stable.
Reserves climbed $20.4 billion to $3.03 trillion, the People’s Bank of China said Sunday, compared with a median estimate of $3.02 trillion in a Bloomberg survey of economists.