Forex reserves hit new record
5 November 2003
China's foreign currency reserves hit a record US$401 billion at the end of October, marking a 40 percent increase over last year.
Government spokespeople said that the country's foreign exchange reserves were now second only to Japan's.
The economy grew by 8.5 percent in the first nine months of this year and combined volume of imports and exports is expected to increase to US$800 billion for the whole year.
Foreign direct investment in China amounted to US$40.2 billion in the first nine months, an increase of 11.9 percent from the same period last year.
