RT.com
08 May 2021, 12:44 GMT+10
Beijing has continued to increase its foreign exchange reserves ? already the world's largest ? boosting them by $28.15 billion in April from a month earlier, to a total of $3.198 trillion.
The increase was due to the US dollar's decline against other major currencies held in the reserves, along with rises in global asset prices, China's central bank said in a statement on Friday.
The Chinese yuan appreciated 1.2% against the dollar in April, while the greenback dropped 2.1% against a basket of major world currencies.
Foreign capital inflows to China also picked up in April, after the country posted record economic growth in the first three months of the year.
Data from the Institute of International Finance showed that China accounted for 95% of foreign net inflows to emerging market equities last month at $13.5 billion, though flows into Chinese debt eased.
Statistics also showed that China's gold bullion reserves stayed unchanged from the end of March, at 62.64 million fine troy ounces. The value of China's gold holdings rose to $110.73 billion at the end of April, from $109.18 billion at the end of March.
According to the regulator, China has posted a preliminary current account surplus of $75.1 billion in the first quarter of 2021, equivalent to 2% of GDP. Preliminary capital and financial account deficit stood at $75.1 billion in January-March.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Pakistan Telegraph news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Pakistan Telegraph.
More InformationWASHINGTON, D.C.: President Donald Trump claimed he was unaware that the term shylock is regarded as antisemitic when he used it in...
PARIS, France: A strike by French air traffic controllers demanding improved working conditions caused significant disruptions during...
OMAHA, Nebraska: With Congress considering cuts totaling around US$1 trillion to Medicaid over the next decade, concerns are rising...
ROME, Italy: Quick thinking by emergency responders helped prevent greater devastation after a gas station explosion in southeastern...
WASHINGTON, D.C.: President Donald Trump is drawing praise from his core supporters after halting key arms shipments to Ukraine, a...
MOSCOW, Russia: This week, Russia became the first country to officially recognize the Taliban as the government of Afghanistan since...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
NEW YORK, New York - Monday's trading session saw mixed performances across U.S. and global markets, with several major indices posting...
WASHINGTON, D.C.: The U.S. government has granted GE Aerospace permission to resume jet engine shipments to China's COMAC, a person...
DUBAI, U.A.E.: Saudi Aramco is exploring asset sales as part of a broader push to unlock capital, with gas-fired power plants among...
MILAN, Italy: Italian regulators have flagged four non-EU countries—including Russia—as carrying systemic financial risk for domestic...
NEW YORK CITY, New York: With just weeks to spare before a potential government default, U.S. lawmakers passed a sweeping tax and spending...