China now has world’s largest foreign exchange reserves – AFX

From AFX via Forbes online (link)

China’s forex reserves reached 853.7 bln usd at the end of February, unseating Japan to become the nation with the largest holdings, government data show.

Japan’s reserves at end-February this year stood at 850.1 bln usd, down 1.6 bln from the end-January total.

China’s reserves grew strongly last year to reach 818.9 bln usd by the end of 2005.

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