CHINA / Figure that Matters
China forex reserves at end-May
(Reuters)
Updated: 2006-06-28 11:46
China's foreign exchange reserves, the world's largest, rose by $30
billion in May to $925 billion, the China Business News said on
Wednesday, citing unnamed officials.
China's forex reserves stood at $875.1 billion at the end of March, the
last month for which official figures are available.
The reserves have surged in the past few years as the central bank buys
most of the dollars generated by China's balance of payments surplus.
Reserves stood at $895 billion at the end of April, China Business News
said.
Earlier this month, a senior government official said that China's
growing trade surplus had boosted reserves to over $900 billion, forcing
the government to turn its attention to tightening liquidity.
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