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: 亚洲美女视频免费| 男女一级毛片免费播放| 国产综合在线观看视频| 一级女性全黄生活片免费看| 污视频在线网站| 午夜爽爽爽男女污污污网站| 韩国免费观看高清完整| 国产精品亚洲а∨天堂2021| 99国产精品免费观看视频| 孩交精品xxxx视频视频| 亚洲AV永久精品爱情岛论坛 | 天天爱天天做天天爽| 中国高清色视频www| 日本18xxx| 久久国产精品免费一区二区三区| 桃子视频在线官网观看免费| 亚洲日韩激情无码一区| 色婷婷欧美在线播放内射| 国产恋夜精品全部护士| 性欧美videos高清喷水| 国产精品天堂avav在线| 91福利电影福利在线观看| 在线播放真实国产乱子伦| chinese男子同性视频twink| 少妇人妻偷人精品视频| 中文天堂最新版www在线观看| 日本v片免费一区二区三区| 久久精品99国产精品日本| 最近韩国电影免费高清播放在线观看 | 国产成人精品无码专区| 中文字幕激情视频| 国产精品亚洲αv天堂2021| 18禁裸男晨勃露j毛免费观看| 性按摩xxxx| 中文字幕在线视频免费观看| 欧美三级在线观看视频| 亚洲欧美国产国产综合一区| 精品欧美高清不卡在线| 国产无遮挡又黄又爽在线观看| **一级毛片全部免| 国产精品无码DVD在线观看|