China FX Reserves to Stay High in September: Yicai

China's foreign exchange reserves will remain at a relatively high level in September as China's exports show resilience in H2 helped by recovering external demand, while the dollar index and U.S. treasury yield may be little changed, Yicai.com reported citing Zheng Houcheng, research head of Yingda Securities. China's FX reserves stood at USD3.32 trillion by the end of August, down by USD3.8 billion from a month ago. The decrease was mainly due to the depreciation of non-U.S. dollar currencies and the decline in major bond prices, the newspaper said citing Wen Bin, chief researcher of China Minsheng Bank. Trade and cross-border capital flows still supported FX reserves, indicating solid economic conditions and balance of payments, the newspaper cited Wen as saying.