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China's forex reserves soar to record US$609.9 billion in 2004
BEIJING : China's foreign reserves in 2004 soared to a record 609.9 billion dollars from 403.3 billion dollars in 2003 on the back of strong fund inflows and a burgeoning trade surplus, state press reported.
The official National Business Daily, a newspaper owned by party mouthpiece the Liberation Daily, reported the record 206.6-billion-dollar increase, citing unnamed officials at China's central bank.
In 2003, China's reserves rose by a then-record 160 billion dollars.
The mainland holds the world's second highest foreign currency reserves after Japan, which in December hit a record 844.54 billion dollars.
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