China's reserves top US $500bn in 2004

China's foreign exchange reserves hit a record US$609.9 billion in 2004, soaring at a rate of US$206.7 billion over 2003, according to the People's Bank of China.

Starting with US$145 billion in early 1999, the foreign exchange reserves increased month by month to reach US$165.574 billion by the end of 2000, up to US$212.165 billion by the end of 2001, up again to US$286.407 billion by the end of 2002 and nearly doubled to US$403.251 billion by the end of 2003.

Statistics show that the seven

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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