PBOC officials note that it is normal to see changes in forex reserves, and that they will keep forex reserves at a reasonable, appropriate level.
Headlines
Recent changes to reporting method for forex purchases and sales are intended to avoid misreading of data by market
Supply and demand will play main role in determining yuan exchange rate in medium and long term
Exchange rate will reflect economic fundamentals
To keep renminbi basically stable against a basket of currencies
Will look for opportunities at the appropriate time to push forward yuan exchange rate reform
Pace of reform may speed up or slow down depending on availability of appropriate time window
January loan surge due to seasonal factors
Monetary policy is prudent with a slight easing bias
(Market News Provided by FXstreet)