12.07.2011 - Foreign-exchange reserves jump in China
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
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