China reported a jump in its foreign-exchange reserves and a surge in bank lending, reflecting continued inflationary pressures on the world’s No. 2 economy.
The People’s Bank of China said the country’s stockpile of U.S. dollars and other foreign currency rose $152.8 billion in the April-to-June period—or roughly $1.7 billion a day—to $3.2 trillion. Much of that money comes from earnings by exporters and foreign investors, which adds to an existing flood of cash in the Chinese economy that has helped push up prices………………………………………..Full Article: Source