$74.7 billion flowed into China’s foreign reserve measure under the balance of payments in the second quarter, marking the biggest quarterly increase since the first quarter of 2014.
Authorities absorbed heavy foreign-currency inflows, a move analysts say helped moderate the pace of the yuan’s appreciation rather than let gains accelerate more sharply.
The buildup coincided with a sixth consecutive quarterly rise in the onshore yuan through June, linking reserve accumulation to Beijing’s currency-smoothing efforts.
The data point to sustained capital inflows into China and show policymakers still leaning on reserve management to guide the yuan’s path.