China's foreign exchange reserves fell to the lowest since 2011

Almaty. September 8. Silkroadnews – In August China's foreign exchange reserves (excluding Hong Kong, Macau and Taiwan) dropped by $15.89 billion to $3.185 trillion, Russian media reported.

According to publication, July decrease was not that steep and made $4.1 billion only. The newspaper South China Morning Post reported on Thursday, the current decline has exceeded the analysts' forecasts and happened against the background of capital outflows from the economy.

The volume of foreign exchange reserves fell to the lowest level since December 2011.

«These statistics shows the continuing pressure on the economy caused by capital outflows against background of further yuan weakening forecasts», said a senior researcher at the Bank of Communications of China Liu Jian.

He explained that gaining speed in late August the rate of decline of the national currency against the dollar «could contribute to capital outflow».

The expert projects the pressure caused by capital outflows will continue in China till the end of the year, though to be smaller compared with last year.