The Central Bank of China said Saturday that the foreign exchange reserves by 16 percent in the year to 1.9537 trillion U.S. dollars by the end of March.The reserves in China and the world, with an increase of $ 7.7 billion in the first quarter - $ 146.2 million U.S. dollars less than the same period last year, the People's Bank of China, said an opinion on its website .
This increase was significantly lower in the fourth quarter by nearly 45 million U.S. dollars, according to official news agency Xinhua and China shows the impact of the slowdown of exports due to the financial crisis.
In March, the reserves increased $ 41.7 million U.S. dollars, 6.7 billion more than during the same period last year.
Analysts believe that China is up to 70 percent of its foreign exchange reserves in currencies other than the U.S. Dollar assets, including securities of the Ministry of Finance.
China has reserves of the balloons that the central bank buys dollars from the company and its huge influx of foreign investment.
While the economy in China has slowed down due to the decline of trade and a decline in property prices in the domestic sector, recent data show the decline was reduced in March.
Beijing has taken steps to ensure the prices of exports by reducing the taxes on the exporters and the verdict of the rise of China, controls the currency, the yuan against the dollar. Economists say that the two measures strain relations with business partners in China, where they compete, so unjust.
Western politicians, including British Prime Minister Gordon Brown has chosen China to contribute into a fund for the rescue of reserves.
Exports are up 17 percent in March from the previous year, the fifth monthly decline, but less severe, that the decrease from 25.7 February, the highest in a decade, the Agency for Customs Friday. He said that "showed clear signs of improvement."
Imports fell by 25.7 percent, the increase in China's trade surplus to $ 18.6 billion U.S. dollars in February to 4.8 million difference.
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