Foreign reserves hit record high

SHANGHAI: China's foreign reserves, already the world's largest, hit a record high $2.273 trillion by the end of September as surging asset prices and the economic recovery attracted investment. The People's Bank of China said in a report on its website yesterday that the reserves rose about $141 billion between July and September, from $2.13 trillion at the end of June. China's reserves have ballooned as the central bank has bought dollars generated by its trade surplus and investment inflows. China's economic recovery and gains in the country's currency against the dollar are also attracting outside money.