Chinese foreign exchange reserves falls in July
In July, foreign exchange reserves of China amounted to $3.201 trillion having slightly lowered the figure in June, reports People’s Bank of China. In general, it coincides with the market expectation with an unexpected growth in June that surprised investors. The trend of reduction of Chinese foreign exchange reserves showed in November 2015 amid concerns the weakening of the yuan and capital flights. However, growth of reserves was rebounded in March, when fear eased as signs of stabilization of economic growth. In May, China’s foreign exchange reserves, which is the largest in the world fell to the lowest level for the last five years to $3 trillion 190 billion.