China’s foreign exchange reserves unexpectedly rose last month to return to a level above US$3 trillion, marking the first accumulation since last June as the Chinese government’s efforts in curbing capital outflow begin to show effect.
The country’s foreign exchange reserves were US$3.0051 trillion at the end of February, a modest rise of US$6.9 billion from a reading of US$2.9982 trillion at the end of January, according to data released by the People’s Bank of China on Tuesday.
A rise in reserves can help shore confidence in the yuan exchange rate and offer Beijing more leverage in pushing up
source http://www.omnipopmag.com/2017/03/07/chinas-foreign-exchange-reserves-unexpectedly-rise-to-us3-trillion-as-capital-outflow-curbs-show-effect/
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