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China Sept FX reserves rise for 8th straight month in boost to President Xi


China Sept FX reserves rise for 8th straight month in boost to President XiChina's foreign exchange reserves rose modestly in September for an eighth straight month, and by slightly more than markets had expected, as tighter regulations and a stronger yuan continued to discourage capital outflows. A dramatic slowdown in capital flight - which had been seen as one of the biggest risks to China - has helped boost confidence in the world's second-largest economy ahead of a key Communist Party meeting this month, at which President Xi Jinping is expected to consolidate his grip on power. Forex reserves rose $17 billion in September to $3.109 trillion, compared with an increase of $10.5 billion in August, central bank data showed on Monday.





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