Free Trial

China FX Reserves Supported by Exports and Capital Inflow: Daily

CHINA PRESS
MNI (Singapore)

China's foreign exchange reserves are steadily supported by strong exports and a net inflow of securities investment, the Economic Information Daily reported citing analysts. China's FX reserve rose USD17 billion to USD3.22 trillion by end-October from a month earlier due to the slightly falling U.S. dollar index and changing asset prices in major countries, the newspaper said citing Wang Chunying, spokeswoman of the State Administration of Foreign Exchange. China should be prepared to deal with internal and external shocks as the Federal Reserve began tapering and global liquidity condition risks tightening, as well as rising energy prices that increase production costs, the newspaper said citing Wen Bin, chief researcher of Minsheng Bank.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.