China FX levels at US$1 trillion by October-report

China's foreign exchange reserves are expected to hit one trillion US dollars by September or October, the official Securities Times reported, citing a member of the central bank's monetary policy committee.

Foreign exchange reserves are growing at a pace of 20 bln usd per month with foreign investment and trade surpluses increasing, Fan Gang, a member of the monetary policy committee of the People's Bank of China was quoted as saying.

Fan said with the current foreign exchange rate mechanism,

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