China forex reserves rise to $3.205t in April



China's foreign exchange reserves continued to rise in April, official data showed on Sunday, as the dollar fell against other major currencies.

China's foreign exchange reserves rose 0.66 percent or $20.9 billion, to $3.205 trillion in the month of April, according to China's State Administration of Foreign Exchange (SAFE).

The change in forex reserves was influenced by a host of factors such as the falling U.S. dollar index and rising global financial asset prices, caused by global macroeconomic indicators including monetary policy expectations of major economies, SAFE said on Sunday.

The Chinese currency renminbi (RMB), or the yuan, fell 0.63 percent against the dollar in April, while the dollar last month fell 0.94 percent against a basket of other major currencies.

China held 66.76 million fine troy ounces of gold at the end of April, rising from 66.50 million ounces at end-March. The value of China's gold reserves rose to $132.35 billion at the end of April from $131.65 billion at end-March.

"It is anticipated that the expectations of international investors and overseas companies on the Chinese market will continue to improve, the risks of external shocks will continue to be effectively prevented and defused, and the attractiveness of RMB assets will further increase, which will contribute to the overall stability of foreign exchange reserves," said Bruce Pang, chief economist and head of research, JLL Greater China.