China's forex numbers see continuing rise
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A teller counts and arranges dollar notes at an Agricultural Bank of China branch in Qionghai, Hainan province. [Photo/China Daily] |
China's foreign exchange reserves in August increased for the seventh consecutive month, adding evidence for a stabilizing trend of the country's cross-border capital flows.
The data showed an increase of $10.8 billion to a total of $3.09 trillion at the end of August, central bank data showed on Thursday.
It was the first time since June 2014 that the reserves climbed for seven months in a row.
The continued rise can be attributed to better than expected economic recovery since the beginning of the year and improved market expectations for the yuan's exchange rate, the State Administration of Foreign Exchange said in an online statement.
