March Economic Statistics

Updated: 2010-04-16 13:37
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Forex reserve hits $2.45t in March



March Economic Statistics


China's foreign exchange reserves hit a new high of $2.4471 trillion by the end of March, up 25.25 percent year on year, the People's Bank of China (PBOC), the central bank, announced on April 12.

China's foreign exchange reserves increased by $47.9 billion in the first quarter, $40.2 billion more than that of the same period last year, the PBOC said in a statement on its website.

The central bank said in January that China's foreign exchange reserves topped $2.399 trillion by last December. [Full Story]

New loans advances 510.7b yuan in March 



March Economic Statistics


Bank lending slowed in March as the government took further steps to rein in credit, amid rising inflation and asset bubble risks.

Chinese banks advanced 510.7 billion yuan ($75 billion) in new loans in March, down from the 700.1 billion yuan in February, the People's Bank of China, the nation's central bank, said on April 12.

That puts the total new loans for the first quarter at 2.6 trillion yuan, higher than the government targeted 2.25 trillion yuan, or some 30 percent of the planned 7.5 trillion yuan for the whole year. [Full Story]

 China sees trade deficit in March, 1st time in 6 years



March Economic Statistics


China's trade balance turned red in March, the country's first monthly trade deficit in six years, the General Administration of Customs (GAC) said on April 10.

China exported $112.11 billion of goods and services in March, up 24.3 percent year on year, while the imports surged 66 percent year on year to $119.35 billion , resulting in a trade deficit of $7.24 billion.

The March deficit was China's first since it posted a 2.26 billion deficit in April 2004, according to a report released by the GAC.  [Full Story]


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