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China's fx reserves exceed $3.1 trillion in May, highest in nine months
China's foreign exchange reserves jumped $6.1 billion from the end of April to $3.1 trillion at the end of May, the highest figure in nine months, according to the State Administration of Foreign Exchange (SAFE) on Monday. Wang Chunying, spokesperson of the SAFE, noted that steady economic growth in China will stabilize the foreign exchange market despite future uncertainties and turbulence in the global financial markets. Wang said on Monday that market sentiment is shifting toward risk aversion in response to global trade and political uncertainties, including escalating global trade disputes and Brexit, as shown ... (full story)