China’s Forex Reserves Exceed $1,000 Billion - Peter Garnham
From Financial Times:
China’s foreign currency reserves have exceeded $1,000bn for the first time, according to reports yesterday on the country’s state television network.
The announcement had been expected since China’s State Administration of Foreign Exchange announced last month that its reserves hit $987.9bn at the end of September.
China’s forex reserves became the largest in the world this year when they overtook those of Japan, which stood at $881bn at the end of September.[Full Text]
-Also read CDT post China confirms it holds around 70% of its reserves of dollars.
