Tags: AS | China | Foreign Reserves

China's Reserves Rise for Fourth Month

Wednesday, 07 June 2017 05:47 AM EDT

BEIJING (AP) — China's foreign currency reserves have risen for a fourth month ahead of a possible U.S. interest rate hike that might put new pressure on Beijing's exchange rate controls.

Government data on Wednesday showed the reserves, the world's biggest, rose $24 billion in May to $3.05 trillion.

A sharp decline last year prompted Beijing to tighten controls on the outflow of money from the world's second-largest economy.

The Chinese controls could face a new test if the U.S. Federal Reserve decides at a meeting next week to raise interest rates. That would draw money out of China in search of higher returns, which could require Beijing to raise its own interest rates or further tighten controls on capital flows.

© Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Asia
China's foreign currency reserves have risen for a fourth month ahead of a possible U.S. interest rate hike that might put new pressure on Beijing's exchange rate controls.Government data on Wednesday showed the reserves, the world's biggest, rose $24 billion in May to...
AS,China,Foreign Reserves
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2017-47-07
Wednesday, 07 June 2017 05:47 AM
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