China forex reserves become the world's biggest

[oblivious]

SHANGHAI, March 28 (Reuters) - China has overtaken Japan to become the world's biggest holder of foreign exchange reserves after its stockpile grew $8.5 billion in February to $853.7 billion, the China Business News reported on Tuesday.

Japan had reserves at the end of February of $850.1 billion.

...China's reserves have ballooned in recent years as the central bank, in order to hold down the yuan, has bought most of the dollars generated by a growing trade surplus, inflows of foreign direct investment and speculative capital.

∩=A%20bank%20clerk%20counts%20yuan%20in%20a%20bank%20in%20Liaochen,%20east%20China's%20Shandong%20Province%20March%2023,%202006.%20REUTERS/China%20Daily

Bloomberg: China Currency Reserves Top Japan's, Newspaper Says (Update1)
http://www.bloomberg.com/apps/news?pid=10000087&sid=aIJ7mKLQ01rg&refer=top_world_news

AP: Report: China foreign reserves at $853.7B
http://www.businessweek.com/ap/financialnews/D8GKGCMO0.htm?campaign_id=apn_home_down&chan=db

[quiet.american]

1. Thanks for posting! n/t