With strong foreign exchange reserves to support the internationalization of the RMB
From the surface, China’s foreign exchange reserves have the relatively large size, but China’s foreign currency assets are not much, mainly because residents’ foreign currency assets are not many. As a result of the RMB can not be freely convertible, China’s foreign exchange reserves becomes China’s main foreign currency assets.
As of the end of 2008, China’s foreign exchange deposits reached 179.1 billion U.S. dollars, in which residents’ foreign exchange deposits reached 52.9 billion U.S. dollars, together with 1.95 trillion U.S. dollars of foreign exchange reserves, China’s overall foreign exchange assets reached 2.13 trillion U.S. dollars, which was equivalent to 50.7 percent of China’s GDP.
Venezuela’s foreign exchange reserves in 2009 reduce 33.7%
According to Statistics Committee of the Central Bank, since December 31, 2008 to April 20, 2009, Venezuela’s foreign exchange reserves fell from 42.299 billion U.S. dollars to 28.43 billion U.S. dollars, with a decrease of 14.256 billion U.S. dollars.
Among which, 12 billion U.S. dollars are commissioned by the Government to the National Development Fund (FONDEN) funding, and 2.256 billion U.S. dollars are foreign exchange for imports.
Shanghai: in the first quarter, GDP growth rate was 3.1 percent, which decreased 8.43 percentage points year-on-year
On 25 April, Shanghai Municipal Bureau of Statistics released data show that in the first quarter, Shanghai’s GDP (GDP) growth rate was 3.1%, which increased 11.53 percent compared to the first quarter of last year and decreased 8.43 percentage points year-on-year.
In recent years, it has always been obviously decreased compared to the double-digit increases during the same period. However, in the first quarter, the proportion of tertiary industry in GDP substantially increased, which reached 60.1 percent and has become the main support in Shanghai’s economy .
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