Finance: Forex reserves to US$900b
(Shanghai Daily)
Updated: 2006-06-15 10:27
皇冠体育app's foreign exchange reserves have topped US$900 billion, remaining
the world's largest ahead of Japan, the 皇冠体育app Securities Journal reported
yesterday.
皇冠体育app's reserves - which overtook Japan's in February - had reached US$875.1
billion by the end of March, with an increase of US$56.2 billion in the first
quarter of the year alone. The steady growth of trade surplus and direct foreign
investments are seen as the major reasons for the surging foreign exchange
reserves, the newspaper cited an official source as saying.
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