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MNI DATA IMPACT: China FX Reserves Edged Up In June

MNI (London)
     BEIJING (MNI) - China's FX reserves edged higher for a second consecutive
month in June. Here are the key points from data released by the State
Administration of Foreign Exchange on Monday:
     -- FX reserves rose by $18.2 billion to $3.1192 trillion in June, up from
May's $3.1010 trillion. 
     -- The slight increase was mainly due to the declining U.S. dollar index
and rising asset prices amid global trade tensions and changes in some major
countries' monetary policy, SAFE said. 
     -- China's FX reserves are expected to remain stable, as the FX market will
be well supported by the resilience and sustainability of the economic growth,
SAFE spokeswoman Wang Chunying said in a statement.
     -- The yuan gained 0.49% against the U.S. dollar in June, Wind data showed.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: MAQDS$,M$A$$$,M$Q$$$,MT$$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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