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BEIJING (MNI) - Here are the major takeaways from China's January FX
reserves data released by the State Administration of Foreign Exchange on
- FX reserves increased by $15.2 billion to $3.09 trillion in January, up
from $3.07 trillion in December.
- The FX reserves' value was bolstered by exchange rate conversions and
asset price fluctuations, mostly the depreciation of U.S. dollar, according to
- Chinese economy has maintained a generally stable and progressive trend
amid a global slowdown, and its balance of payments is in equilibrium. This
provides a solid foundation for the reserves' stability, SAFE said.
- China's FX reserves are expected to remain generally stable; China can
maintain the overall stability of cross-border capital flows and ensure FX
supply meets demand, SAFE said.
- The yuan appreciated by 2.33% against the U.S. dollar in January,
according to Wind Information.
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