China’s closely watched foreign exchange reserves fell by 0.85% in February to $3.13 trillion from January’s $3.16 trillion, marking the first decline since January 2017, according to data from the State Administration of Foreign Exchange (SAFE).
The dip in forex reserves resulted from other currencies weakening against the U.S. dollar, coupled with a correction in asset prices last month, the administration said in a statement which followed the data release.
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