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Article: CHINA'S MASSIVE FOREIGN EXCHANGE RESERVES AROUSE DEBATE.
- Article from:
- AsiaPulse News
- Article date:
- October 30, 2006
CopyrightCOPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, Oct 30 Asia Pulse - China's foreign exchange reserves will break the US$1 trillion barrier at the end of October or early November, experts have predicted, triggering discussion across the country.
The People's Bank of China, the country's central bank, announced two weeks ago that China held US$987.9 billion of foreign exchange reserves at the end of September, up 28.46 per cent year-on-year. The country's foreign exchange reserves rose by US$18.77 billion monthly in the first nine months this year.
The central bank will make a new announcement about China's foreign exchange reserves in January 2007. However, insiders said that there is no ...