China's foreign exchange reserves fell $15.54 billion in July to $3.104 trillion, central bank data showed. Economists had expected the country's reserves, the world's largest, would fall by $18 billion to $3.101 trillion, likely due to fluctuations in global exchange rates and the prices of foreign bonds that China holds.

China has been able to keep capital outflows under control over the past year despite a bruising trade war with the United States and weakening economic growth at home. But pressure could build after authorities let the yuan slide to 11-year lows this week, following U.S. threats of more tariffs from Sept. 1.

The value of China's gold reserves rose to $88.876 billion at the end of July from $87.27 billion at the end of June.