Almost $ 3 Trillion

[bearice]

China Currency Reserves Rise to Record $2.85 Trillion

China’s foreign-exchange reserves climbed by a record last quarter and lending exceeded the government’s annual target, increasing pressure on the central bank to tighten policies to rein in liquidity and inflation.

The currency holdings, reported by the central bank on its website today, rose by $199 billion to $2.85 trillion, the biggest quarterly gain since Bloomberg data began in 1996. Full- year yuan-denominated lending of 7.95 trillion yuan ($1.2 trillion) compared with a target of 7.5 trillion yuan.

http://www.bloomberg.com/news/2011-...o-record-domestic-lending-exceeds-target.html

 

[misterno]

Their economy is slowing down and there is still recession in USA their main export market

So howcome their foreign currency reserves still increasing?

It does not make sense

 

[bearice]

Quote from misterno:

Their economy is slowing down and there is still recession in USA their main export market

So howcome their foreign currency reserves still increasing? It does not make sense

I think foreign currency reserves of other countries are also increasing. But I do not have the correct data/information.

 

[Halal Burger]

Africa, have a look.

The west buys natural resources from Africa, who buy consumer crap/food/machinery/guns from China.

 

[flumas]

What is you favorite investments in Afrika?

 

[RewriteQuran]

$2.85 trillion is of no use unless they invest it.

 

[bearice]

Quote from RewriteQuran:

$2.85 trillion is of no use unless they invest it.

China is earning 10% interest for $2.85 Trillion. Correct me if I am wrong. I read it somewhere but do not remember correctly.

 

[misterno]

Quote from bearice:

China is earning 10% interest for $2.85 Trillion. Correct me if I am wrong. I read it somewhere but do not remember correctly.

China is not earning %10 interest, the most they can get is like 0.5% from US short term bonds.

What are you smoking?

 

[bearice]

Quote from misterno:

China is not earning %10 interest, the most they can get is like 0.5% from US short term bonds. What are you smoking?

I think it is more than 0.5%. I have written "I read it somewhere but do not remember correctly".

 

[Halal Burger]

Quote from misterno:

China is not earning %10 interest, the most they can get is like 0.5% from US short term bonds.

What are you smoking?

They didn't just get 2.8 trillion yesterday you know?

They've been scooping up 10 and 30 year bonds for decades. Even today they get 3.4% on a 10y and 4.5% on a 30y.