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Jan 16, China’s foreign exchange reserve hit record high

China’s foreign exchange reserve reached 1.0663 trillion U.S. dollars at the end of 2006, announced the People’s Bank of China yesterday.

China became the world’s largest foreign currency depositor in the first half of 2006. Figures from the State Administration of Foreign Exchange show that China’s foreign exchange reserve stayed below one billion U.S. dollars before 1979.

Xin Hua