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China foreign exchange reserves fell slightly in January as US dollar gains
- Chinese foreign exchange reserves, the largest in the world, fell to US$3.211 trillion from US$3.217 trillion in December
- Size of China’s holdings of gold was stable in January, but value fell to US$116.76 billion from US$118.25 billion in December
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China’s foreign currency reserves fell slightly in January, official data showed on Sunday, likely due to valuation effects as the US dollar posted a small gain against a basket of major currencies.
China’s foreign exchange reserves, the largest in the world, fell to US$3.211 trillion last month, compared with US$3.217 trillion in December.
The US dollar index rose by 0.7 per cent against a basket of currencies in January. The dollar accounted for 58 per cent of China’s reserves in 2015, according to latest available data.
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Foreign inflows into Chinese stocks and bonds have been strong as China gallops ahead of other major economies in its recovery from the coronavirus pandemic.
Foreign investors held more than a tenth of all outstanding Chinese government bonds for the first time in January, as demand surged on a combination of higher yields and a stronger yuan.
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