Data released by the Central Bank of China show that the country's foreign exchange reserves have been contracting for two consecutive months. In February, they dropped $5.7 billion to $3.2 trillion.
However, the indicator dynamics turned out to be better than the experts' forecast. They had expected China's foreign exchange reserves to fall by $10 billion last month. The main reason for the reduction in reserves was the change in the exchange rate. The yuan lost almost 0.6% against the US dollar in February.
The inflow of investment funds into the Chinese economy remains high. This is facilitated by the faster recovery of the Chinese economy compared to other countries.
The People's Bank of China also announced a February decline in gold reserves in value terms to $109.2 billion. In January, they amounted to $116.8 billion. At the same time, the volume of gold reserves remained at the January level. In February, it amounted to 62.6 million ounces.