China's forex reserve tops $1.43 trillion

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http://news.xinhuanet.com/english/2007-10/12/content_6871900.htm

China's forex reserve tops $1.43 trillion
www.chinaview.cn 2007-10-12 20:39:38

BEIJING, Oct. 12 (Xinhua) -- China's foreign exchange reserve had reached 1.43 trillion U.S. dollars by the end of September, up 45.1 percent year-on-year, the People's Bank of China announced on Friday.

A total of 367.3 billion U.S. dollars were added to the country's foreign exchange reserve in the first nine months of 2007, said the central bank.

In September alone, the forex reserve rose by 25 billion dollars.

China's soaring trade surplus is still the major contributing factor to the forex reserve boom.
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The growth rate is 1.39 percentage points higher than the end of June and still higher than the target growth of 16 percent set by the central bank at the beginning of this year.

A total amount of 195.8 billion yuan was poured into the market during the first nine months, 30.2 billion yuan more than the same period of last year.
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The state-owned investment company will invest in overseas financial markets.