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Article: CHINA'S FOREIGN EXCHANGE RESERVES HIT RECORD HIGH.
- Article from:
- AsiaPulse News
- Article date:
- January 18, 2007
CopyrightCOPYRIGHT 2007 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, Jan 18 Asia Pulse - China's foreign exchange reserve hit record high in 2006.
The foreign exchange reserves reached US$1.0663 trillion in China at the end of 2006, announced the People's Bank of China on January 15.
The figure rose 30.22 per cent over that at the end of 2005. China reported a fresh increase of US$247.3 billion of foreign exchange reserve in 2006.
The increment was US$38.4 billion more than the growth figure in 2005.
It was the first time that China's foreign exchange reserves were confirmed to exceed $US1 trillion, according to the central bank.