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Home >> Business
UPDATED: 14:42, June 25, 2004
China's forex reserve adds 116.8 bln US dollars in 2003
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China's foreign (forex) exchange reserve added 116.8 billion US dollars in 2003 on the back of surpluses in both current and capital and financial accounts, according to a report released by the country's forex regulator on Wednesday.

The State Administration of Foreign Exchange (SAFE) said the forex reserve amounted to 403.25 billion dollars at last year-end while the Renminbi exchange rate remained stable all through 2003.

Current account surplus in international payments reached 45.88 billion dollars including 44.65 billion from cargo trade, as against a deficit of 8.57 billion dollars from service trade.

Capital and financial accounts recorded a surplus of 52.73 billion dollars. The SAFE noted that foreign direct investment remained the major means of capital inflow for China -- adding up to 47.08 billion dollars last year.

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