BEIJING May 7 China's foreign exchange reserves
rose in April for a third straight month, beating market
expectations, as capital control measures and a pause in the
dollar's rally helped staunch capital outflows.
Reserves rose $21 billion during April to a total of $3.03
trillion, compared with an increase of $3.96 billion in March to
Economists polled by Reuters had expected foreign exchange
reserves to rise by $11.0 billion to $3.02 trillion in April.
China has tightened rules on moving capital outside the
country in recent months as it seeks to support the yuan
currency and stem a slide in its foreign exchange
It burned through nearly $320 billion of reserves last year
but the yuan still fell about 6.5 percent against the dollar,
its biggest annual drop since 1994.
The yuan's performance against the dollar has been steady in
recent weeks after the dollar lost its upward momentum.
In April, U.S. President Donald Trump backed away from
labelling China a currency manipulator after a meeting with
Chinese President Xi Jinping, and attacked the dollar saying the
greenback was "getting too strong" and would eventually hurt the
Gold reserves rose to $75.02 billion at the end of April,
from $73.7 billion at end-March, data published on the People's
Bank of China website also showed.
(Reporting by Ben Blanchard and Stella Qiu; Editing by Nick