China forex reserves expected to surpass Japan's

China's forex reserves are expected to surpass Japan's this year as strong fund inflows and a burgeoning trade surplus make it the world's largest holder of foreign currency, state press reported.

"At this speed, our foreign reserves are likely to exceed Japan's," Ba Shusong, a top official with the Financial Research Institute under the State Council's Development Research Center, was cited as saying by the China Securities Journal.

At the end of September China's foreign reserves rose 15.8 bi