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- PolicyPolicy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: - G10 MarketsG10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts - Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- CommoditiesCommodities
Real-time insight of oil & gas markets
- CreditCredit
Real time insight of credit markets
- Data
- MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
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Free AccessMNI China Daily Summary: Friday, February 2
MNI BRIEF: China Likely To Grow By 5% In 2024 - Advisor
MNI 5 THINGS: China FX Reserve Value Gains First in 4 Months
BEIJING (MNI) - The value of China's foreign exchange reserves in November
rose for the first time since August, according to data released on Friday by
the State Administration of Foreign Exchange.
- FX reserves increased by $8.6 billion to $3.06 trillion in November,
compared with $33.9 billion drop in October. The value of the total reserves is
still the second-lowest this year, up from October's low of $3.05 trillion.
- SAFE said the higher valuation of China's FX reserves was due to
conversions and changes of asset prices in major countries. The moderate gain in
the price of foreign treasury bonds drove up the valuation, according to SAFE.
- SAFE said the yuan "fluctuated in both directions with more flexibility,"
the supply and demand of the foreign exchange market were basically in balance,
and cross-border capital flow was generally stable.
- SAFE said China is facing external uncertainties, but the domestic
economy is resilient and able to withstand risks. Fx reserves are expected to
remain stable while fluctuating, it said.
- The yuan appreciated 0.43% against the U.S. dollar last month. MNI
believes that as the depreciation pressure remains in the long term, the central
bank may use the FX reserves to defend the currency.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
[TOPICS: MAQDS$,M$A$$$,M$Q$$$,MT$$$$]
To read the full story
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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.