China's foreign exchange reserves rise more than expected in July


Beijing, Aug 7 - China's foreign exchange reserves rose more than expected in July, the official data showed on Saturday, likely due to changes in the value of currencies and global assets it holds.

The country's foreign exchange reserves - the world's largest - rose to $3.236 trillion in June to $21.88 billion compared with $3.217 trillion predicted by a Reuters poll of analysts and $3.214 trillion in June.

Foreign inflows into Chinese stocks and bonds have been strong as China led other major economies in its recovery from the coronavirus pandemic, lifting reserves back to levels last seen in 2016. But the widening regulatory crackdowns in recent months revived worries about risks of investments in China.

The yuan fell 0.6% against the dollar in July, while the dollar fell 0.3% against a basket of other major currencies in July.

China held 62.64 million fine troy ounces of gold at the end of July, from 62.64 million ounces at the end of June.

The value of China's gold reserves reached $114.37 billion at the end of July from $110.45 billion at the end of June.