Greater China Has Most Of World's Foreign Reserves
1999.04.12¡@2:33am Taiwan time updated
The combined foreign exchange reserves of Taiwan, Hong Kong and mainland China in March reached US$328,805 billion, ranking the greater-China area at the top of the world's foreign exchange reserves, statistics from the Central Bank of China showed on Sunday.
Japan, whose foreign exchange reserves totaled US$222.5 billion in March, trailed in second place by a considerable amount, according to the data.
The data showed that the mainland increased its reserves from last December's US$144.9 billion to US$146 billion, while Taiwan's reserves soared to US$93 billion, the highest in 44 months. Hong Kong's foreign reserves were US$89.8 billion.
Taiwan's foreign reserves in March increased a significant US$9,389 billion, compared to reserves of the same month last year.
The total amount of gold reserves kept in the Central Bank of China amounted to 1,357 million ounces, roughly equaling US$3,799 billion.
Officials from the bank said that the foreign exchange reserves increase indicates the stability of the local stock market and New Taiwan dollar exchange rate.
chinatimes.com.tw |
