China's foreign exchange reserves reach 242.7bn US

CHINA - China's foreign exchange reserves reached 242.76bn US dollars by the end of June this year, up 34.2 per cent over a year earlier, according to statistics released by the People's Bank of China, the central bank, on Thursday.

The growth rate was 20 percentage points higher than a year ago.

The exchange rate of renminbi, the Chinese currency, remains stable. It stood at one US dollar for 8.2771 renminbi yuan at the end of June, basically keeping the level at the end of last year.