From Seekingalpha.com: The People’s Bank fo China continues to amass huge levels of foreign currency reserves with little attention paid. Those reserves totaled $2.4 trillion as of December 2009, which is larger than the GDP of Italy, the world’s 7th largest economy.
China’s reserves are growing at about $400 billion per year, roughly adding Norway’s economy to their reserve surplus every year…………………………………Full Article: Source