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China's forex reserves grew 14,000 times in 60 years
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11:33, September 08, 2009

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According to a report released by National Bureau of Statistics of China (NBS) on September 7, the country's forex reserves have grown almost 14,000 times in 60 years, becoming the largest in the world.

The NBS said that in 1952, China's forex reserves totaled only 139 million USD. By 1978, the figure had risen to 167 million USD.

China's forex reserves picked up its upward trend with the progress of the reform and opening up, surpassed 10 billion USD in 1990 and exceeded 100 billion USD in 1996. By 2006, the country's forex reserves had increased to 1.06 trillion USD, exceeding those of Japan.

China's foreign exchange reserves hit a record 1.95 trillion USD at the end of 2008, the largest in the world and far exceeding those of other countries.

China's GDP per capita has grown 32.4 times in 60 years, and its fiscal revenue has grown 985 times, said the report.

By People's Daily Online

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