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Thread: China’s foreign exchange reserves grew at the slowest leve in June!
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[quote=JIMMYB,303886]The People's Bank of China announced that the foreign exchange reserves had grown to 1.81 trillion US dollars at the end of June, which made China become the biggest holder of foreign exchange reserves in the world. In June, it just has increased 11.9 billion US dollars, which is the smallest monthly jump since Feb. 2006. This has made people guess that the govenment has made some achievement in controling international hot money to flow into China. However, several economists warned that "the figure of June just reflected the changes how the foreign exchange reserves accounted for rather than large reductions in capital inflows." Moreover, an official of SAFE said sevearl days ago that there was no hot money in China. However, SAFE made an announcement yesterday that it was not SAFE's view. Does hot money exist in China? Who should we believe?[/quote]
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