China’s Foreign Reserves Extend Rising Streak Amid Capital Curbs
World’s largest foreign-currency stockpile hits $3.14 trillion
December’s gain marks the 11th straight monthly increase
Bloomberg’s Enda Curran reports on China’s FX reserves.(Source: Bloomberg)
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Bloomberg News
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China’s foreign-exchange reserves posted an 11th straight monthly increase, capping a year of recovery amid tighter capital controls, a stronger yuan and resilient economic growth.
The reserves climbed $20.7 billion to $3.14 trillion in December, according to a People’s Bank of China statement on Sunday, compared with a $3.13 trillion median estimate in a Bloomberg survey. That brought the full-year increase to $129 billion.
