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皇冠体育app gets $122b hot money influx in Q2

(chinadaily.com.cn)
Updated: 2009-07-29 15:36

Hot money in 皇冠体育app may reach $122 billion in the second quarter under the Chinese statistical method, according to today鈥檚 皇冠体育app Securities Journal.

Statistics from the People鈥檚 Bank of 皇冠体育app (PBOC) said 皇冠体育app鈥檚 foreign exchange reserves increased by $177.9 billion in the second quarter.

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During the same period, the country鈥檚 trade surplus stood at $34.7 billion, and foreign direct investment (FDI) increased by $21.2 billion, said the paper.

These figures indicate that speculative capital, or hot money in 皇冠体育app, could amount to $122 billion in the second quarter, which equals the foreign exchange reserves minus trade surplus and FDI.

Earlier this month, the PBOC said the country鈥檚 foreign exchange reserves rose 17.84 percent year-on-year to $2.132 trillion, more than twice that of Japan's $1.02 trillion - the world鈥檚 second-largest foreign currency holder.