China forex reserves exceed 1 trillion USD largest in the world

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Source: CCTV.com | 01-17-2007 11:14

When it comes to forex reserves, China is flush with cash. The central bank says the country's foreign exchange reserves now exceed one trillion US dollars the largest in the world.

Over the past two years, China's forex reserve had been expanding by 200 billion US dollars annually.In February 2006, the country overtook Japan to become the world's number one forex reserve holder. Experts say the huge amount of fortune is a double edged sword.