China’s forex reserves hit $3.0295trillion

China’s forex reserves, the biggest in the world, rose for the third month in a row in April, signalling eased capital flight pressure, central bank data showed Sunday.

The  reserves climbed to $3.0295 trillion  at the end of April from $3.0091 trillion  a month earlier, according to statistics from the People’s Bank of China.

This was the first time the reserves expanded for three months consecutively since June 2014.

The country’s gold reserves also increased from 73.7 billion U.S. dollars by the end of March to over 75 billion U.S. dollars by the end of April.

The State Administration of Foreign Exchange (SAFE) predicted last month that the size of forex reserves would become more stable in the future as the economy maintains relatively fast growth and the country’s current account surplus stays in a reasonable range.

There had been growing concerns about capital flowing out of the Chinese market in the second half of 2016, when the economy was facing looming downward pressures and the Chinese yuan was in the middle of a losing streak against the U.S. dollar.

In January, China’s forex reserves declined below the closely watched 3-trillion-dollar mark for the first time since February 2011.

However, concerns about capital outflows have receded lately, with the Chinese economy on a firmer footing, supported by a string of upbeat data including industrial profits, factory activity and fixed-asset investment.

Forex reserves by Nations:(Wikipedia)

Rank	Country	Forex reserves (ex. gold) (in millions of US$)	As of
1	China	3,029,967	December 2016
2	Japan	1,188,387	December 2016
3	Switzerland	689,497	March 2017
4	Saudi Arabia	535,977	December 2016
5	Taiwan	434,204	December 2016
—	Hong Kong, China	386,164	December 2016
6	Republic of Korea	366,307	December 2016
7	Brazil	362,506	December 2016
—	Eurozone	344,556	December 2016
8	India	340,314	December 2016
9	Russia	317,548	December 2016
10	Singapore	246,364	December 2016
11	Mexico	173,536	December 2016
12	Thailand	166,157	December 2016
13	United Kingdom	147,004	December 2016
14	Indonesia	113,485	December 2016
15	Poland	110,555	December 2016
16	United States	105,204	March 2017[1]
17	Israel	98,361	December 2016
18	Malaysia	93,095	December 2016
19	Turkey	92,057	December 2016
20	Czech Republic	85,362	December 2016
21	Canada	82,718	December 2016
22	Philippines	73,433	December 2016
23	Denmark	61,770	December 2016
24	Peru	60,463	December 2016
25	Norway	60,443	December 2016
26	Germany	59,569	December 2016
27	France	56,136	December 2016
28	Sweden	54,739	December 2016
29	Australia	52,079	December 2016
30	Italy	44,803	December 2016