China's forex reserves are stable, says central bank vice governor

[BEIJING] China's foreign exchange reserves are stable, the vice governor of the central bank Yi Gang said on Monday.

"They (FX reserves) are very stable. Our foreign exchange reserves are still the largest in the world," Mr Yi told reporters.

China's foreign exchange reserves declined by US$99.5 billion in January to US$3.23 trillion after a record fall the previous month.

Reserves have shrunk by US$762 billion since mid-2014, more than the gross domestic product of Switzerland.

A Reuters' poll showed that foreign exchange reserves likely fell for a fourth straight month in February, easing to US$3.2 trillion. The data may be released early this week.

REUTERS