China: Foreign reserves hit fresh peak October 15, 2009
China's foreign reserves hit a record high of $2.27 trillion (R16.7 trillion) last month as surging asset prices and the economic recovery attracted investment, the People's Bank of China said yesterday. The reserves rose $141 billion in the quarter. China's reserves have ballooned as the central bank buys up dollars generated by its huge trade surplus and investment inflows. Its reserves are more than double those of second-biggest reserves holder Japan, which has $1.05 trillion. - Sapa-AP
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