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China FX Reserves Supported by Exports and Capital Inflow: Daily

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.

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