China’s Forex Reserves Surge, Gold Holdings Reach All-Time High

China’s foreign exchange reserves experienced a modest increase of $3.6 billion in May, reaching a total of $3.285 trillion according to the latest figures released by the Beijing-based foreign exchange regulator. This growth was far below analyst predictions of $3.292 trillion and represents a slowdown from April’s reserve level. Despite the yuan depreciating against the US dollar, China’s forex holdings expanded due to fluctuating exchange rates and overseas asset prices.