Report says China's reserves still rising fast

China's foreign exchange reserves continued to rise in August, a newspaper reported on Friday 30 September, suggesting further upward pressure on the yuan.

According to the China Business News, hot money is still flowing strongly into the economy as a bet on further currency appreciation, data indicated.

"China's foreign exchange reserves totalled $753.2 billion at the end of August, while the level was $732.4 billion at the end of July," the newspaper said, without citing sources.

The newspaper