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To: TobagoJack who wrote (75)	11/6/2003 1:05:30 AM
From: TobagoJack	Read Replies (1) \| Respond to of 113

Mainland's soaring foreign reserves surpass US$400b Thursday, November 6, 2003 scmp.com GARY CHEUNG The mainland's foreign currency reserves hit a record US$401 billion at the end of last month, marking a 40 per cent increase over last year. Addressing business leaders and statesmen at the Business Week CEO forum in Hong Kong, Vice-Premier Zeng Peiyan also said the mainland's economy grew 8.5 per cent in the first nine months of the year. This year's combined volume of imports and exports was expected to increase to US$800 billion. Mr Zeng, who arrived in Hong Kong on Tuesday for a three-day visit, said the mainland's foreign exchange reserves were second now in the world, behind Japan. Mr Zeng said foreign direct investment on the mainland amounted to US$40.2 billion in the first nine months of the year, up 11.9 per cent from the same period last year. Foreign direct investment on the mainland was expected to increase to more than US$50 billion by the end of this year, he said.