BEIJING, Sept 16: China’s foreign exchange reserves hit $253 billion at the end of August, the official Xinhua news agency said on Monday, quoting central bank chief Dai Xianglong.

That was up from $246.5 billion at the end of July. Xinhua gave no further details.

China has amassed the world’s second largest forex reserves after Japan, thanks to a soaring trade surplus, analysts say.

China said its trade surplus in August was $2.2bn, the same as its July surplus.—Reuters