Since 2006, China's foreign exchange reserves have been ranked first in the world. After breaking through $2 trillion in June of 20 10, it increased by 1 trillion in less than one year.
2011At the end of March, the balance of China's foreign exchange reserves was US$ 3,044.7 billion, up by 24.4% year-on-year, and exceeded the US$ 3 trillion mark for the first time. As a national asset, China's foreign exchange reserves are managed by the China State Administration of Foreign Exchange under the People's Bank of China, and some actual business operations are carried out by the Bank of China.
The scale of China's foreign exchange reserves:
On March 7th, 2002 1 year, the data released by the State Administration of Foreign Exchange showed that by the end of February, the scale of China's foreign exchange reserves was $3,205 billion, a decrease of $5.7 billion or 0. 18% compared with the end of1year.
Some people think that the foreign exchange reserves of floating exchange rate countries should be about 10% of GDP, while the level of foreign exchange reserves in China is obviously high. On average, the proportion of foreign exchange reserves in GDP of countries in the Asia-Pacific region is much higher than that of western countries. This phenomenon is not unique to China. The high foreign exchange reserves also help to maintain the stability of the financial market.
However, there are also views that considering the serious bad debts of banks in China, it is not only necessary to appropriately increase foreign exchange reserves, but also the current level of reserves is too low.