China's foreign exchange reserves are two times that of Japan

China's foreign exchange reserves breakthrough 2 trillion U.S. dollars has been the world's second largest foreign exchange reserves Japan's twice Times Jing Chu Network news (Hubei Daily) News background The growth course of China's foreign exchange reserve in the beginning of reform and opening up China's foreign exchange reserve growth slow, export-earning has become a unique term of export sector Between 1978 and 1989, the balance of foreign exchange reserves in the remaining years was not more than 5 billion U.S. dollars, except for 1989 of $5.6 billion. November 1996, China's foreign exchange reserves for the first time exceeded 100 billion U.S. dollars.　　5 years later, that figure doubled to 200 billion dollars.　　Into the 21st century, China's foreign exchange reserve growth began to accelerate, February 2006 China's foreign exchange reserves surpassed Japan as the world's first foreign exchange reserves, October 2006 breakthrough 1 trillion U.S. dollars, 2007 for 1.53 trillion U.S. dollars, 2008 for 1.95 trillion U.S. dollars. From the four quarter of last year, China's foreign exchange reserve growth began to slow down, a few months of negative growth, but this year in the 2 quarter, China's foreign exchange reserves again appeared rapid growth situation. BEIJING, 15th (Xinhua) The pace of China's foreign exchange reserve growth accelerated again in the two quarter of this year, according to Xinhua news agency Beijing 15th. According to central bank data, as of the first half of 2009, China's national foreign exchange reserves exceeded the 2 trillion U.S. dollar mark, this number is the world's second largest foreign exchange reserves, Japan, twice times.　　And even more surprising is that, in the more than 180 billion dollar of the first half of the external storage increment, 95% from the two quarter. Reason: The economy gradually stabilized with the gradual stabilization of the economy and the expected impact of RMB appreciation, the pattern of negative foreign-exchange reserves that had emerged in December this year has been replaced by the current month-by-month climb, with the figures showing that in the two quarter of three months, the monthly new reserves were 55.2 billion U.S. dollars, 80.6 billion dollars, 42.1 billion dollars,　　Much higher than the modest increase in foreign exchange reserves in the months after the financial crisis erupted.　　Compared to Japan, the European Union and other economies such as the United States, China's economy in the two quarter of a steady rebound in the signs of market forecasts in the two quarter of China's economic growth rate of 8%, the future towards a good trend is more obvious. Behind the rapid growth of foreign reserves, but also hiding the figure of international hot money.　　China's market in the two quarter obviously warmer, attracting a large number of hot money, which is the two quarter of the rapid growth of foreign exchange reserves is an important reason. Risk: The large amount of floating capital inflows of foreign exchange reserves have been regarded as a double-edged sword by experts. On the one hand, under the background of the financial crisis and the global economic recession, high foreign exchange reserves can be used as the regulator of international finance, which can provide the guarantee for the national financial stability and crisis relief.　　But at a time when global liquidity is rampant, the excessive growth of reserves is undoubtedly fraught with risks, causing concern among experts. Changbaoliang, an economist at the National Information Center, said that the biggest danger of capital inflows is the emergence of asset bubbles, which are not unrelated to the current stock and housing price increases. "In addition to blowing big asset bubbles, leading to inflation, hot moneyInflow will make the renminbi face upward pressure, and the appreciation of the renminbi will adversely affect our exports.　　"Changbaoliang said.　　Foreign exchange expert Chen Bingcai that the further formation of high reserves increases the management difficulty of the foreign Exchange Management department, because regardless of the composition of the reserves, its value is in the risk of constant change. Countermeasures: The diversification of foreign exchange reserves to avoid the troubles caused by reserve Kao Jen, the adjustment and effective use of the external storage structure is particularly crucial. Among the many claims of effective use of foreign exchange reserves, there has been a high demand for more strategic assets, more energy and resource reserves.　　But experts point out that China, as a big buyer in the international market, will naturally sharply increase the price of such assets once it has been heavily involved in a particular asset or commodity, and will instead bring in unnecessary reserve losses. Encouraging enterprises to "go out" is becoming a way for the authorities to defuse the risk of foreign exchange reserves. "The Government encourages enterprises ' to go out ', to a certain extent, to reduce domestic foreign exchange reserves, through loans for oil and other specific methods, China to convert some of US dollar assets into oil and gas resources such as assets, which is to adjust the structure of foreign exchange reserves, to promote the diversification of foreign exchange reserves, to　　"Zhang Bin, deputy director of the international financial Room of the World Academy of Social Sciences, China. Yu Yu, director of the Institute of Social Sciences, said that this may solve the stock problem in foreign exchange reserves, but it cannot solve the problem of traffic growth. He believes that the key to solve the problem is to take measures to realize the transformation of economic growth mode and realize the balanced development of economy.