Gold and exchange currency reserves of China have reached $1,434 bln
In III quarter, 2007, volume of gold and exchange currency reserves of China has grown on 101 billion dollars in annual calculation. Today National Bank of China has informed that thus, the new record mark in $1,434 bln. has been reached.
Meanwhile for the first 9 months of this year the volume of gold and exchange currency reserves of the country has grown on 367,3 billion dollars. For last three years gold and exchange currency reserves have increased for more than 3 times.
Fast growth of reserves of China is in many respects caused by greater incomes of export of goods, inflow of foreign investments and periodic receipt of the speculative capital.
With a view of increase in feedback from growth of gold and exchange stocks in China in the end of September, 2007, the state investment fund with the 200 billion dollars capital has been created. It will be accumulated due to gold and exchange stocks of the state. Analysts have already named the created state company one of the largest investing funds in the world.
New investing fund has received the name China Investment Corp. It is marked, that the fund will operate independently and to make investment decisions without dependence from the governmental policy.
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