China's foreign reserves hit $1.95 trillion at end of March

(Xinhua)
Updated: 2009-04-11 11:31

BEIJING -- China's foreign exchange reserves rose 16 percent year-on-year to $1.9537 trillion by the end of March, said the People's Bank of China on Saturday.

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It represents an increase of $7.7 billion for the first quarter, but the increase was $146.2 billion lower than the same period of last year.

In March alone, the foreign exchange reserves rose by $41.7 billion. The increase was $6.7 billion higher than the corresponding period of last year.

Outstanding foreign currency loans stood at $235.2 billion by the end of March, down 11.7 percent year on year.

In the first quarter, foreign currency loans dropped by $8.5 billion. The decline was $57.3 billion heavier over the same period of last year.

In March, foreign currency loans rose by $4.3 billion. The increase was $6.4 billion lower than the same period of last year.

Meanwhile, outstanding foreign currency deposits rose 28.9 percent, or $7.5 billion, to $200.3 billion in the first quarter. The increase was $13 billion higher over the same period of last year.

In March alone, foreign currency deposits rose by $3.3 billion. The increase was $1.8 billion higher over the same month in 2008.