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China's foreign exchange reserves slipped to .125 trillion at the end of April, down by about billion or 0.57 percent from March, officials announced on Monday.
China's monetary authorities are planning a more significant role for the renminbi, encouraging the free cross-border flow of capital under the nation's financial opening plan, supported by favorable domestic monetary conditions, according to analysts.
China's financial sector did not stop opening up amid the epidemic. For example, Oaktree Capital Management, a global asset management firm focused on alternative markets, established a wholly owned subsidiary in Beijing in February. China's central bank also approved an application from Mastercard's Chinese joint venture to conduct bank card clearing business in the country. More foreign financial institutions are expected to be established and cooperation projects landed in China in the second half of this year. The Chinese economy has shown strong resilience amid the COVID-19 pandemic, said Leo Yin, manager of Deutsche Bank China Beijing Branch.
China's leading manufacturers such as Haier Group Corp have quickly picked up on this consumer craze.
China's non-financial corporate leverage ratio declined for the third consecutive quarter to 165.3 percent in the first quarter this year, the BIS data showed.
来源：资阳报