China's forex reserves exceed $1 trillion
NEWS
The State Administration of Foreign Exchange (Safe) did not specify exactly when the reserves broke through the psychologically important barrier, but the regulator did confirm China's FX reserves stood at $987.9 billion at the end of September.
China had already surpassed Japan earlier this year as the world's largest holder of FX reserves (FX Week, April 3). The announcement had long been expected, as strategists predicted that China's reserves, rising at a rate of nearly $30 million per hour
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