China reserves slumped $320 billion last year as yuan tumbled – BBG

Over the weekend, the PBOC came out with their latest FX reserves data, revealing that the country’s reserves fell for the sixth straight month in December, Bloomberg reported.

Key Headlines:

China's FX reserves end-Dec USD 3.011trln vs USD 3.052trln prev 

Reserves decreased $41.1 billion

To a fresh five-year low of $3.01 trillion

Reserves have fallen for 10 consecutive quarters

“The central bank's effort to stabilize the yuan was the main reason for the drop last year, the State Administration of Foreign Exchange said in a statement”