China's foreign exchange reserves surged through the $2,000bn mark at the end of June after a sharp accumulation of funds in the second quarter, as money poured into the country to take advantage of faster economic growth and a possible future revaluation of the Chinese currency.
The People's Bank of China, the central bank, announced on Wednesday that foreign exchange reserves reached $2,132bn after it rose by $177.9bn in April to June, including a record monthly build-up of $80.6bn in May.
The country has the world's largest foreign currency holding, and much of it remains in US dollar assets despite Beijing's recent criticism of the dominant role of the dollar as a global reserve currency.
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