Foreign reserves fall in October

The fourth consecutive drop indicates heavy pressure from capital outflows

China's foreign exchange reserves fell for the fourth consecutive month in October, indicating sustained capital outflow pressure, despite initial signs of stabilization in the world's second-largest economy, analysts said.

Foreign exchange reserves fell by $45.73 billion - the biggest monthly drop since January - to $3.12 trillion, following a drop of $18.79 billion in September, the People's Bank of China, the central bank, said on Monday. They stood at the lowest level since March 2011, according to central bank data.