report from (reporter Gao Chen) Bank of China, according to the latest data released yesterday, in February, China added Exchange account for $ 214.523 billion per cent 57%.
at the end of February 2011, China's foreign exchange balance amounted to $ 23,295,685,000,000. In January, China added exchange of 501.6 billion yuan, is since October last year its second record high after the 30-month high of $ 519 billion.
analysts believe February Exchange incremental decline month trade deficit in China-related. According to previously published data-administration, February trade deficit of US $ 7.3 billion in China, which is China's trade deficit for the first time since last March.
Zhengzhou Training Institute Professor Wang Yong people's Bank of China said that raises the overall price increases for various reasons, but foreign exchange account for too much may be induced by main driver of overall prices rose, the Central Bank should revolve around how to effectively resolve currency exchange issues to proceed with regulation. In order to curb inflation, the Central Bank must be through open market operations, increase the required reserve ratio and other methods, offset by the Exchange as a result of increased passive base currency to inject.
