BEIJING, Jan. 11 (APP) — China’s foreign exchange reserve had reached $ 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 $ 461.9 billion were added to the country’s forex reserve in 2007, said the central bank and in December alone, the forex reserve rose by $ 31.3 billion.
China’s forex reserve kept a sharp growth in 2007, reaching $ 1.2 trillion by the end of March, $ 1.33 trillion by the end of June, and $ 1.43 trillion by the end of September.
China’s soaring trade surplus is the major contributing factor to the forex reserve boom.
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