China's cross-border capital flows continue good momentum in May

BEIJING: China's cross-border capital flows are stabilising and continued good momentum in May, the forex regulator said on Wednesday.

Foreign exchange supply and demand were basically balanced last month, the State Administration of Foreign Exchange(SAFE) said in a statement after the country's reserves data was released.

The appreciation of non-dollar currencies against the dollar and rising asset prices helped boost China's foreign exchange reserves in May, it added.

China's foreign exchange reserves rose modestly in May to $3.054 trillion for a fourth straight month and by more than market expectations, central bank data showed.