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China's FX reserve hits 194 billion USD

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China's foreign exchange reserves, the world's largest stockpile rose by 194 billion US dollars in the third quarter to nearly 2.65 trillion, according to the People's Bank of China.

That was a record increase for a single quarter, and shows that China has been under economic pressure to let the yuan appreciate. China's new local-currency loans also increased, with banks extending nearly 600 billion yuan in September.

The new local-currency loans in August were 545 billion yuan, and 533 billion in July. Analysts say the dollar's depreciation in the third quarter contributed to the rise in the figures.

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