China forex reserves rise for 6th month as economy improves
China's forex regulator says it's currently seeing the most balanced supply and demand for foreign exchange in China in the past 3-years.
The State Administration of Foreign Exchange says this is mostly due to a crackdown on speculative or suspect outbound investments.
The 4-month slowdown of the US dollar, which has lost around 8-percent of its value during that period, is also being cited as a factor behind a continual rise in China's forex levels.
The latest data shows China's foreign exchange reserves rose for a 6th consecutive month in July, putting China's foreign exchange levels back above 3-trillion US dollars.
For more on this, CRI's Paul James earlier spoke with John Ross, Senior Fellow with Chongyang Institute for Financial Studies, Renmin University.
John Ross, Senior Fellow with Chongyang Institute for Financial Studies, Renmin University, speaking with CRI's Paul James.