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Article: China's colossal foreign exchange reserves arouse debate
- Article from:
- Xinhua News Agency
- Article date:
- October 29, 2006
CopyrightCopyright 2006 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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China's colossal foreign exchange reserves arouse debate
BEIJING, Oct. 29 (Xinhua) -- China's foreign exchange reserves
will burst the 1 trillion U.S. dollar barrier at the end of October
or early November, experts have predicted, triggering discussion
across the country.
The People's Bank of China, or central bank, announced two weeks
ago that China held 987.9 billion U.S. dollars of foreign exchange
reserves at the end of September, up 28.46 percent year-on-year. The
country's foreign exchange reserves rose by 18.77 billion U.S.
dollars 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. ...