China's Forex Reserve Hits 212 Billion US Dollar

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Last updated at: (Beijing Time) Tuesday, January 15, 2002

China's Forex Reserve Hits 212 Billion US Dollar

China's foreign exchange reserves reached 212.2 billion U.S. dollars at the end of 2001, Dai Xianglong, governor of the People's Bank of China, said Tuesday.

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China's foreign exchange reserves reached 212.2 billion U.S. dollars at the end of 2001, Dai Xianglong, governor of the People's Bank of China, said Tuesday.

Dai announced the news at a press conference hosted by the Information Office of the State Council, saying that the figure represents an increase of 46.6 billion dollars, or up 28.14 percent, over that at the beginning of 2001.

More, China's gold reserves totaled 500 tons, and Shanghai Gold Exchanges started business on a trial basis last November, said Dai.

RMB exchange rate remained stable, he said, adding that China has taken measures to strengthen capital account management and set up an early warning system for external balance.

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