China may have achieved $ 2 trln foreign reserve: report

By Qin Zhongwei (chinadaily.com.cn)
Updated: 2009-07-09 16:04

China's foreign reserve may have already exceeded $2 trillion with the economy slowly healing since March, according to a report in Shanghai Securities News today.

Insiders said the sustainable export increase and increasing inward foreign direct investment to China may contribute to its growth.

Before People's Bank of China — the country's central bank — releases its official figures within days, many, including analysts from Merchant Securities and UBS, are positive about the growth that is likely to continue in the next quarter.

Zhou Xiaochuan, governor of People's Bank of China, told a central banker's meeting in Basel, Switzerland last month that China would continue to push its "stable" reserve policy.

China's foreign reserve had already hit $1.95 trillion by the end of March, said the Xinhua News Agency.