Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
Forex reserves hit $1.68 trillion
+ -
10:20, April 12, 2008

 Related News
 China's forex reserve tops $1.68 tln
 China's forex reserve tops $1.53 tln
 Promise to improve forex management
 China's forex reserves swell to $1.43 trillion
 China's forex reserve tops $1.43 trillion
 Comment  Tell A Friend
 Print Format  Save Article
The country's foreign exchange reserves, the world's largest, reached $1.68 trillion by the end of March, an increase of $153.9 billion from the end of last year, the central bank said on Friday.

The year-on-year increase was nearly 40 percent, according to a statement from the People's Bank of China.

The spike in reserves has aroused concerns that "hot money", or speculative capital, is flowing into the country on a large scale.

"While growth of the trade surplus is on the decline, the reserves are increasing rapidly, which means much of the capital comes from the capital account," Zhao Xijun, a finance professor of Renmin University of China, said.

"Compared with the current account, it is harder to monitor capital coming via the capital account," Zhao said.

Meanwhile, the growth of China's broad measure of money supply, or M2, which includes cash and all types of deposits, slowed to an annual 16.3 percent in March from 17.5 percent in February, the central bank said.

Source:China Daily



  Your Message:   Most Commented:
Dalai's brag about "peace", "non-violence" is nothing but lie
TYC, a terrorist organization much catastrophic than bin Laden's, say netizens
Netizens condemn sabotage attempts on Olympic torch relay
Calls from netizens to cite TYC as terrorist organization
Two-face baby worshipped as goddess

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90776/90884/6391299.pdf