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China forex reserves rank No.1 in the world
www.chinanews.cn 2006-03-29 14:15:45
Chinanews, Mar.29 - The overall scale of China's foreign exchange
reserves exceeded Japan's for the first time at the end of February and
climbed to the first spot in the world.
Insiders revealed to "China Business News" yesterday that through the end
of February 2006, China's foreign exchange reserves totaled US$853.7
billion and according to Japan's finance ministry's statistics, that
country's forex reserves were US$850.1 billion by February end.
China's State Administration of Foreign Exchange Deputy Director General
Wei Benhua said on March 27th that at present China's forex reserves were
adequate and maintained an upward growing trend and would be beneficial
to maintain the nation's and its enterprises' external credit and the
stability of financial structure and to prevent and resolve international
financial risks.
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