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China's forex reserves account for 30% of world total

(People's Daily)
Updated: 2010-02-20 14:38

China's foreign exchange reserves hit $2.4 trillion, accounting for 30.7 percent of the world's forex reserves, according to foreign media.

It's said that with the recovery of the global economy in 2009, the national foreign exchange reserves will also see a significant rise. According to statistics, China's foreign reserve occupied 30.7 percent of total global reserves. BRIC countries (China, Russia, Brazil and India) are very much at the forefront, with $3.31 trillion reserves, accounting for 42.3 percent; while the G7 have only account $1.24 trillion.

It's also understood that China's foreign reserve in 2009 increased by more than 23 percent, equaling nearly 2 times the forex reserves of the G7. As a G7 member, Japan's reserves are about $1 trillion, ranking the second largest country in forex reserves.

According to the survey, among the world's ten largest reserves countries, there are seven countries from Asia. As for the United States, with its $45.4 billion foreign exchange reserves, it is only $2.4 billion more than Nigeria ($43 billion).