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China's forex reserves reach $3.16 trillion in January

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China's forex reserves reach $3.16 trillion in January

China's foreign exchange reserves rose for the 12th straight month to $3.16 trillion at the end of January, up by $21.5 billion from the end of December 2017, according to official data released Feb. 7.

The country's foreign exchange reserves increased steadily throughout 2017 after falling below $3 trillion in January 2017, according to the State Administration of Foreign Exchange, or SAFE.

A SAFE official attributed the increase to the appreciation of major non-U.S. dollar currencies in international financial markets and changes in asset prices.

The country's gold reserves remained unchanged at 59.24 million ounces, valued at $79.68 billion, China Daily reported, citing the People's Bank of China.