13.05.2015 - China Adopts IMF Accounting Practice in Reserve-Currency Push
China adopted the International Monetary Fund’s standards for its latest balance of payments data as the nation seeks to obtain reserve-currency status for the yuan. The changes, effective this year, include putting reserve assets under the financial rather than the current account, according to a statement posted on the State Administration of Foreign Exchange website Tuesday. With the adjustment, the country’s first-quarter current-account surplus of $78.9 billion is the same as the deficit under the financial and capital heads. The authority didn’t give a reason for the shift...............................................Full Article: Source
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