China March FX reserves above $3 trln as capital control measures contain outflows

China's foreign exchange reserves rose slightly in March, data published by the People's Bank of China (PBoC) showed on Friday. China's foreign exchange reserves rose $3.96 billion during March to total $3.009 trillion, compared with an increase of $6.92 billion in February.

The rise was less than market expectations, as capital control measures and a pause in the dollar's rally helped contain capital outflows. China's foreign exchange reserves were expected to rise by $5 billion to $3.01 trillion in March.

Gold reserves value edged lower to $73.74 billion at the end of March, from $74.376 billion at end-February, data published on the People's Bank of China website also showed.

Authorities in China have tightened rules on moving capital outside the country in recent months as it seeks to support the yuan currency and stem a slide in its foreign exchange reserves. Focus now will be on Trump-Jinping meeting which is likely to have an impact on the yuan's value in the medium term.