China December forex reserves fall for 6th month, near $3 trillion level
BEIJING: China’s foreign exchange reserves fell for a sixth straight month in December to the lowest since early 2011, but held just above the critical $3 trillion level, as authorities stepped in to support the yuan ahead of US President-elect Donald Trump’s inauguration.
Reserves fell by a slightly less than expected $41 billion last month to $3.011 trillion, central bank data showed on Saturday, following a drop of $69.06 billion in November.
Economists polled by Reuters had forecast reserves would drop $51 billion to $3.001 trillion.
China’s reserves fell nearly $320 billion in 2016, after a record drop of $513 billion in 2015.
China did very well in last few decades as their focus was business. Since China has joined hands with Pakistan to become a terrorist State, it is going down economically
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3 days ago
they will go down… china is loosing its credibility by bullying everyone… world community lost confidence in china… china cant be trusted for sure…
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2 days ago
It is down hill all the way for . Few years ago at a meeting in Delhi with my bro business friends when I made a statement regarding the nonsustainability of Chinese economy and model, they were almost derisively dismissive. That”s life pffolks!.
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3 days ago
china has a public debt of 30 trillion dollars – and 3 trillion dollars reserves- with a gdp of 10 trillion dollars- we should learn from china, japan , and usa – how to borrow big, print more money- control inflation, increase production/exports and take our gdp to over 20 trillion dollars from our current shameful 2.3 trillions gdp— we can beat china if we plan smartly and work smartly…
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Shortly it will down below of India”s reserve.
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