BEIJING, July 14: China’s foreign exchange reserves, the second-largest in the world after Japan’s, hit $711 billion at the end of June, up 51.1 per cent from a year ago, official data showed on Thursday. This reflected an increase of $20 billion in June alone, $8 billion more than in the same month last year, the People’s Bank of China said in a statement on its website.
The country added a total of $101 billion in foreign exchange reserves during the first half of this year, the central bank said.
That compared with a $67.3 billion increase in foreign exchange reserves recorded in the same period of last year, the bank said.
An unnamed central bank official said the end-June total excludes $15 billion that was used for a capital injection into the Industrial and Commercial Bank of China.—AFP
