综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

   

Forex reserve tops $1.53 trln

(Xinhua)
Updated: 2008-01-11 19:03

BEIJING --  China's foreign exchange reserve had reached US$1.53 trillion by the end of 2007, up 43.32 percent from 2006, the People's Bank of China announced on Friday.

A total of US$461.9 billion were added to the country's forex reserve in 2007, said the central bank.

Related readings:
 China vows to strengthen forex checks
 Promise to improve forex management
 China's forex reserve tops US$1.43 trillion
 China's state forex investment company debuts

In December alone, the forex reserve rose by US$31.3 billion.

China's forex reserve kept a sharp growth in 2007, reaching US$1.2 trillion by the end of March, US$1.33 trillion by the end of June, and US$1.43 trillion by the end of September.

China's soaring trade surplus is the major contributing factor to the forex reserve boom.

Data newly released by the General Administration of Customs show that China's trade surplus surged to a record US$262.2 billion in 2007, representing a 47.7 percent growth over a year earlier.

The huge forex reserve is considered the main reason for excess liquidity in China, as the central bank has to spend quantities of basic money to purchase foreign exchange, thus aggravating the problem of surplus fluidity.

By the end of 2007, the M2 -- a broad measure of money supply, which indicates the monetary demand of the whole of country and possible inflation -- grew by 16.72 percent from a year ago to 40.34 trillion yuan.

The growth rate is 0.22 percentage points lower than the end of 2006, but still higher than the target growth of 16 percent set by the central bank at the beginning of 2007.

A total amount of 330.3 billion yuan was poured into the market in 2007, 26.2 billion yuan more than 2006.

On the other hand, continuous growth of the forex reserve has in fact increased the pressure on appreciation of the Chinese currency, which in turn has exerted greater pressure on value preservation of China's forex reserve.

Value of Chinese RMB against the US dollars has appreciated by over six percent in 2007. The central parity rate of the RMB was 7.2672 to the U.S dollar on Friday.

In a move to make better use of the country's huge forex reserve, China established the China Investment Corporate Ltd (CIC), the country's state forex investment company in 2007.

The state-owned investment company will invest in overseas financial markets.

The registered capital of US$200 billion of the CIC all comes from the forex reserve of the country, which have poured into the company so far.

 



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
隆昌县| 静海县| 辽阳县| 阳原县| 萨嘎县| 天台县| 丹寨县| 望奎县| 小金县| 上饶市| 原平市| 沙湾县| 稻城县| 红安县| 高清| 常熟市| 铜川市| 杭锦后旗| 依安县| 岢岚县| 沙湾县| 三门峡市| 宁安市| 漳州市| 民和| 清流县| 万荣县| 昌乐县| 凤冈县| 阜南县| 上饶县| 专栏| 晋中市| 和龙市| 金门县| 靖州| 泾川县| 大化| 景泰县| 枣强县| 张掖市|