Home>News Center>China
       
 

China's forex reserves up to US$818.9b
(Reuters/Xinhua)
Updated: 2006-01-15 16:59

China's foreign exchange reserves jumped US$49.9 billion in the fourth quarter of 2005 to a record US$818.9 billion, a leap that could intensify pressure on Beijing to let the yuan rise more quickly, the Reuters reported Sunday.

The central bank said on Sunday that its reserves swelled $209 billion, or 34.3 percent, in the whole of 2005 following an increase of $207 billion in 2004.

China's foreign exchange reserves jumped US$49.9 billion in the fourth quarter of 2005 to a record US$818.9 billion, a leap that could intensify pressure on Beijing to let the yuan rise more quickly, the Reuters reported Sunday.
China's foreign exchange reserves has hit US$818.9 billion, the People's Bank of China said. [newsphoto/file]

Only Japan, with $846.9 billion, has a larger stockpile.

China's reserves have ballooned in recent years as the central bank has bought most of the dollars generated by a growing trade surplus, inflows of foreign direct investment and speculative capital.

Coming after statistical revisions last month showing the economy was 16.8 percent bigger than previously reported, Rob Subbaraman of Lehman Brothers in Tokyo said the data would hand fresh ammunition to U.S. critics clamouring for a stronger yuan.

"You have an economy that has just turned out to be bigger than everyone thought. It's growing around 10 percent, and you have reserves growing to new record highs every month. That's providing a lot of arguments for China to move a bit quicker on the currency front," Subbaraman said.

Beijing has vowed to gradually let market forces drive the yuan's exchange rate.

Since China revalued the yuan by 2.1 percent against the dollar in July and adopted a managed float, it has let the currency rise a further 0.52 percent against the dollar.

Gao Shanwen, chief economist at Everbright Securities in Shanghai expects China's reserves to grow another $200 billion this year as the trade surplus continues to rise.

"The pace of build-up of forex reserves in 2006 will continue to be strong," he said. "That means upward pressure on the yuan remains as it was before. It faces persistent upward pressure."
Page: 123



Busy season for farmers in subtropical Guangxi
Castro on Chinese train
Great minds
  Today's Top News     Top China News
 

Major cities eye balanced growth for next 5 years

 

   
 

Beijing's approach 'appeals to Taiwan people'

 

   
 

China's interest in Africa no 'threat' - US

 

   
 

US teens surrender in homeless beatings

 

   
 

China may merge A-share, B-share markets

 

   
 

Thousands join campaign to name pandas

 

   
  China forex reserves rose to US$ 818.9b in 2005
   
  Thousands join campaign to name pandas
   
  China may merge A-share, B-share markets
   
  New figures cast doubt on mine closures
   
  Families of haj fatalities to get compensation
   
  Model village to teach others how to improve
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement
         
主站蜘蛛池模板: 大片毛片女女女女女女女| 国产精品喷水在线观看| 欧美xxxx做受性欧美88| 国产午夜福利久久精品| 一本高清在线视频| 欧美夫妇交换完整版随便看| 国产人妖ts在线观看免费视频| 99精品欧美一区二区三区| 成全影视免费观看大全二| 亚洲欧洲日产国码久在线| eeuss免费天堂影院| 麻豆国内精品欧美在线| 国内精品伊人久久久久AV一坑 | 在总受文里抢主角攻np| 一本久久a久久精品亚洲| 无码人妻精品一区二区| 亚洲精品在线电影| 精品人体无码一区二区三区| 国产日韩欧美自拍| igao激情在线视频免费| 日韩精品免费一级视频| 亚洲国产三级在线观看| 欧美激情一级欧美精品| 可以免费看黄的网站| 3d动漫精品啪啪一区二区免费| 推拿电影完整未删减版资源| 亚洲人成色7777在线观看不卡| 精品无人区无码乱码毛片国产 | 久久无码无码久久综合综合| 果冻传媒视频在线观看| 免费黄色片网址| 久久五月天婷婷| 天天躁狠狠躁狠狠躁性色av| 两个人看的www免费视频| 欧美aaaaaa| 亚洲国产精品人久久| 男女下面一进一出无遮挡gif| 国产区精品一区二区不卡中文| 麻豆视频免费播放| 国产欧美在线播放| 99久久免费国产精品特黄|