Beijing: China's foreign exchange reserves have fallen to their lowest level in more than three years, the central bank said on Sunday, as Beijing sells dollars to stop the yuan from depreciating further.
The world's largest currency hoard shrank by $99.5 billion in January to some $3.2 trillion, the People's Bank of China said on its website, the lowest since May 2012.
Need to study a bit more .. , on their economy. Fall is due to switching from export economy to consumer economy ..., and pain would be there ...
Their days as a global supplier of cheap goods seem to be ending
Growth at a scorching pace is not sustainable....
they will bounce back even more aggressively very soon
Still there are number of companies who are over invoicing and remitting excess money back to their parent company. Such adjustment may be stopped.
China's is a 'make or break' economy ! So it seems !!
Ravi K Gupta
hmm. if reserves will be deplete like this, will be very serious for Chinese economy
Steep fall in China's Foreign currency will invite more trouble to China. It is not a healthy trend. Chinese economy is a manipulated one by the Chinese authorities.
There is no wonder if another devaluation of Yuan takes place. If the process continues, China will be under recession.
Coz of the oil price and global market
That is a steep fall indeed for China.
If China starts to cash in the bonds it is holding in USA Debt and the European Debt, Then what? Federal Reserve must raise the Interest rate.
Still China is way ahead from the second country(Japan)
They have so much reserves that India seems like a little toy next to them
Still they have lots of them.