China's forex reserves drop to $3.16t

China's foreign exchange reserves dropped to $3.16 trillion by the end of August, ending a two-month streak of increase, as the US dollar strengthened while global financial markets declined, the State Administration of Foreign Exchange said on Thursday.

The amount marked a decrease of $44.2 billion or 1.38 percent compared with the end of July, SAFE said in a statement.

The administration added that China's economic recovery and solid economic fundamentals will help the country's foreign exchange reserves remain generally stable going forward.