PBOC official says China not pursuing reserve rise

China is not deliberately pursuing expansion of its foreign exchange reserves or any particular level of reserves, a vice head of the central bank said in comments published on Wednesday 5 April.

China's forex reserves amounted to US$853.6 billion at the end of February, exceeding Japan for the first time to become the biggest forex reserves in the world. Japan's forex reserves stood at $850.1 billion at the end of February.

Wu Xiaoling, vice governor of the People's Bank of China or the centra