China’s foreign exchange reserves grew for the 11th consecutive month in December, with tightening regulations and a strong yuan helping to discourage capital outflows, said a South China Morning Post report, citing official data released Sunday.
The reserves rose more than $20 billion in December to $3.14 trillion, the highest level since September 2016, according to the data. The monthly gain was more than double the $10 billion rise posted in November and far more than the $6 billion rise predicted by economists in a Reuters article ahead of the data release.