Foreign reserves show a record decline in Q1

Foreign exchange reserves held by China fell by a record $79.5 billion in the first quarter of the year from the last quarter in 2014.

Official balance of payments data released by the State Administration of Foreign Exchange on Tuesday showed that the decline was more than the $29.3 billion fall in the fourth quarter of last year. Analysts and experts said this indicates a larger-than-expected capital outflow.

At the end of last year, China's total foreign exchange reserves were $3.84 trillion, compared with $3.82 trillion in 2013, and remained the world's largest.