China foreign exchange reserves rise US$20.2b in Dec to US$3.14t

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.