China forex reserves US$925b at end-May
(Reuters)
Updated: 2006-06-28 11:46 China's foreign exchange reserves, the world's
largest, rose by US$30 billion in May to $925 billion, the China Business News
said on Wednesday, citing unnamed officials.
China's forex reserves stood at US$875.1 billion at the end of March, the last
month for which official figures are available.
The reserves have surged in the past few years as the central bank buys most
of the dollars generated by China's balance of payments surplus.
Reserves stood at US$895 billion at the end of April, China Business News said.
Earlier this month, a senior government official said that China's growing
trade surplus had boosted reserves to over US$900 billion, forcing the government
to turn its attention to tightening liquidity.
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