China foreign exchange reserves rise US$20.2b in Dec to US$3.14t
Reserves at highest since Sept 2016 as tight regulations and a strong yuan discourage capital outflows
Beijing
CHINA'S foreign exchange reserves rose to their highest in more than a year in December, blowing past economists' estimates, as tight regulations and a strong yuan continued to discourage capital outflows, central bank data showed on Sunday.
Notching up their 11th straight month of gains, reserves rose US$20.2 billion in December to US$3.14 trillion, the highest since September 2016 and the biggest monthly increase since July. That compares with an increase of US$10 billion in November.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations