Reserves expand in April as capital flows balance: SAFE

Updated 2017-05-08 09:30:16 Global Times

China's foreign exchange reserves rose in April to .03 trillion, the third straight monthly gain, as cross-border capital flows became more balanced and various currencies appreciated against the U.S. dollar, The State Administration of Foreign Exchange (SAFE) said on its website on Sunday.

During April, reserves rose by .4 billion from March, up 0.7 percent, the country's foreign exchange regulator said.

In March, the People's Bank of China, China's central bank, sold the smallest amount of foreign exchange since May 2016, a move to support the government's assertions that capital flows were becoming more balanced, according to a report by Reuters on Sunday.

Enterprises have become more rational in foreign exchange purchases, the SAFE noted, with the yuan's value steadying. There has also been a basic balance in cross-border capital flows, which will persist as supply-side reform is further promoted.

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