Picture taken 13 October 2007, shows a Chinese artist using Chinese yuan notes to creates a model of Beijing's Central Business District (CBD). China and the United States warned each other Wednesday that their booming but tense trade relationship was under threat from protectionism, as they began two days of top-level economic talks. AFP PHOTO/TEH ENG KOON (Photo credit should read TEH ENG KOON/AFP/Getty Images)

China’s foreign exchange reserve fell to under the psychologically important 3-trillion-dollar mark as it hit a six-year low in January, officials said Tuesday.

Picture taken 13 October 2007, shows a Chinese artist using Chinese yuan notes to creates a model of Beijing’s Central Business District (CBD). China and the United States warned each other Wednesday that their booming but tense trade relationship was under threat from protectionism, as they began two days of top-level economic talks. AFP PHOTO/TEH ENG KOON (Photo credit should read TEH ENG KOON/AFP/Getty Images)

Forex reserves fell to 2.9982 trillion dollars, down from about 3.01 trillion dollars in December, China’s State Administration of Foreign Exchange said, citing figures from the central bank.

China’s forex reserves have been falling for seven consecutive months, reaching the lowest levels since February 2011. Since the reserve’s peak in June 2014, Chinese authorities have used up the equivalent of about 1 trillion dollars.

The fall in the reserves shows continued capital outflow despite the government’s efforts to control it and stabilize the Yuan.

Source: GNA

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