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China FX Reserves To Remain Stable - Daily

CHINA PRESS
MNI (BEIJING)

China’s FX reserves increased 2.13% m/m in November to USD3.11 trillion, and are expected to remain stable in the near term, according to the Securities Daily. November's increase reflected changes in asset prices and favorable conversion of non-USD reserves into USD. Reserves are expected to remain stable as the Fed slows its rate hikes, growth is supported by Chinese government policies, and China’s trade balance remains resilient. Seasonal factors such as exporters' payment collection at the end of the year will also support stability.

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China’s FX reserves increased 2.13% m/m in November to USD3.11 trillion, and are expected to remain stable in the near term, according to the Securities Daily. November's increase reflected changes in asset prices and favorable conversion of non-USD reserves into USD. Reserves are expected to remain stable as the Fed slows its rate hikes, growth is supported by Chinese government policies, and China’s trade balance remains resilient. Seasonal factors such as exporters' payment collection at the end of the year will also support stability.