China’s foreign exchange reserves rose in March for the first time in five months, as the value of the renminbi gradually rose and the country’s manufacturing sector began to stabilize, the Financial Times reports. Data from the People’s Bank of China, released on Thursday, show that foreign reserves rose $10.3bn last month to $3.2tn. A stronger renminbi has helped ease the decline in China’s reserves, by alleviating the need for the central bank to sell foreign cash to support the domestic currency’s value. It also decreases the chances of “capital flight” — companies and households selling Chinese assets and rushing to pull their money out of the country.
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