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China forex reserves cross US$3 trillion
Reserves rose US$6.92 billion during February to total US$3.005 trillion, their first increase since June 2016
Add BT as a preferred sourcePublished Tue, Mar 7, 2017 · 09:50 PM
Beijing
CHINA'S foreign exchange reserves unexpectedly rose for the first time in eight months in February, rebounding above US$3 trillion as a regulatory crackdown and a steadying yuan helped staunch capital outflows.
The rebound in reserves could ease fears in global markets that China will engineer another sharp one-off devaluation of the yuan, which would run the risk of inflaming trade tensions with the new US administration under President Donald Trump.
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