China foreign exchange reserves surge

January 16, 2014 - 12:12:03 pm

An exterior view of the headquarters of the People’s Bank of China (PBOC) in central Beijing. China’s foreign exchange reserves jumped by more than $500bn last year, or about 15 percent, to the equivalent of $3.82 trillion, the central bank said yesterday. The reserves grew by around $160bn in both the third and fourth quarters of 2013 after increasing by only $130bn in the whole of 2012.

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