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Essay heading: China Currency Reserves Top Japan's, China Business News Says
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Biographies |
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| Date added: |
September 5, 2008 |
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The State Administration of Foreign Exchange didn't immediately respond to enquiries from Bloomberg News.
U.S. Bond Investor
China's reserves of foreign currency, which economists say are between 70 percent and 80 percent in dollars, doubled in the two years through 2005, rising by an average $17 billion a month... displayed 300 characters
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That was fueled by about $120 billion of foreign investment, a cumulative trade surplus of $134 billion and billions of dollars of capital inflows betting on a rising yuan.
The country has been investing the reserves in U.S. bonds and assets. China held $262.6 billion in U.S. government Treasury bonds at the end of January, making it the largest investor after Japan... displayed next 300 characters
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