Chinas foreign-exchange reserves soared by nearly 20 per cent last year to reach 2.85 trillion dollars, the central bank said on Tuesday.
The Peoples Bank of China recorded a rise of 199 billion dollars in the fourth quarter of 2010, taking total foreign-exchange reserves to 2.85 trillion dollars by December 31, 18.7 per cent higher than the 2009 figure.
A statement posted on the banks website also said local-currency bank loans totalled 7.95 trillion yuan (1.2 trillion dollars) last year, down from 9.6 trillion yuan in 2009 but still above the governments 2010 target of 7.5 trillion yuan.
The government took a series of measures aimed at curbing bank lending last year as part of its efforts to control consumer-price inflation and cool the overheated property market. |
