China's foreign exchange reserves shrank by $43.3 billion in September – dropped to $3.51 trillion, as it is reported in the common statement of the People’s Bank of China, Prime reports.
China’s reserves are declining for the fifth consecutive month.
The central bank of China reported that China’s gold reserves decreased in September by $600 mln - $61.2 bn.
“The decline in China's foreign reserves was caused by the market intervention of the central bank aimed at the stabilization of financial market, including the exchange rate of yuan against other currencies after changing the yuan exchange rate formation mechanism”, - stated the professor of the International Relations Institute of the Chinese People’s University Zhang Lifang. She also considers that central bank conducted the largest interventions in August and September.
