China: Foreign reserves rose slightly to $3.21 trillion in June - BBH

Research Team at BBH, notes that China’s foreign reserves rose slightly in June to $3.21 trln.

Key Quotes

“They were expected to fall to $3.17 trln. This is a good sign that capital outflows from China may have abated.  In June, the dollar was firmer against GBP and EUR, and softer against the yen and the dollar bloc. If we assume that the valuation effect was neutral overall, the increase in total reserves suggests that leakages have eased, at least for now.”