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| China’s foreign exchange reserves soar to $3.2 TRILLION | China’s foreign exchange reserves soar to $3.2 TRILLION |
| (about 1 month later) | |
| Beijing has continued to increase its foreign exchange reserves – already the world's largest – boosting them by $28.15 billion in April from a month earlier, to a total of $3.198 trillion. | Beijing has continued to increase its foreign exchange reserves – already the world's largest – boosting them by $28.15 billion in April from a month earlier, to a total of $3.198 trillion. |
| The increase was due to the US dollar's decline against other major currencies held in the reserves, along with rises in global asset prices, China’s central bank said in a statement on Friday. | The increase was due to the US dollar's decline against other major currencies held in the reserves, along with rises in global asset prices, China’s central bank said in a statement on Friday. |
| The Chinese yuan appreciated 1.2% against the dollar in April, while the greenback dropped 2.1% against a basket of major world currencies. | The Chinese yuan appreciated 1.2% against the dollar in April, while the greenback dropped 2.1% against a basket of major world currencies. |
| Foreign capital inflows to China also picked up in April, after the country posted record economic growth in the first three months of the year. | Foreign capital inflows to China also picked up in April, after the country posted record economic growth in the first three months of the year. |
| Data from the Institute of International Finance showed that China accounted for 95% of foreign net inflows to emerging market equities last month at $13.5 billion, though flows into Chinese debt eased. | Data from the Institute of International Finance showed that China accounted for 95% of foreign net inflows to emerging market equities last month at $13.5 billion, though flows into Chinese debt eased. |
| Statistics also showed that China’s gold bullion reserves stayed unchanged from the end of March, at 62.64 million fine troy ounces. The value of China’s gold holdings rose to $110.73 billion at the end of April, from $109.18 billion at the end of March. | Statistics also showed that China’s gold bullion reserves stayed unchanged from the end of March, at 62.64 million fine troy ounces. The value of China’s gold holdings rose to $110.73 billion at the end of April, from $109.18 billion at the end of March. |
| According to the regulator, China has posted a preliminary current account surplus of $75.1 billion in the first quarter of 2021, equivalent to 2% of GDP. Preliminary capital and financial account deficit stood at $75.1 billion in January-March. | According to the regulator, China has posted a preliminary current account surplus of $75.1 billion in the first quarter of 2021, equivalent to 2% of GDP. Preliminary capital and financial account deficit stood at $75.1 billion in January-March. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |