China's forex reserves up in April

Beijing

CHINA'S foreign exchange reserves rose in April for a third straight month, beating market expectations, as capital controls and a pause in the US dollar's rally helped staunch capital outflows.

The April rise is reassuring news for policymakers after the yuan steadied as US President Donald Trump backed away from labelling China a currency manipulator, saying the dollar was "getting too strong" and would eventually hurt the US economy.