China’s Foreign Reserves Extend Rising Streak Amid Capital Curbs

https://www.bloomberg.com/news/articles/2018-01-07/china-s-foreign-reserves-extend-rising-streak-amid-capital-curbs

China’s foreign-exchange reserves posted an 11th straight monthly increase, capping a year of recovery amid tighter capital controls, a stronger yuan and resilient economic growth.

The reserves climbed $20.7 billion to $3.14 trillion in December, according to a People’s Bank of China statement on Sunday, compared with a $3.13 trillion median estimate in a Bloomberg survey. That brought the full-year increase to $129 billion.

The world’s largest foreign currency stockpile has been steadily rebounding since January, when it fell below $3 trillion for the first time in almost six years after the central bank propped up the yuan. The currency has come roaring back with authorities keeping a tight grip on money flowing out of the country and full-year economic growth set to pick up.