Forex Reserves Approach $3.7 Trillion
China's foreign exchange reserves totaled $3.66 trillion at the end of September 2013, rising from $3.5 trillion 3 months earlier, according to the People's Bank of China. The amount beat expectations of $3.52 trillion.
Local Governments Owe Up to 24 Trillion Yuan: Standard Chartered
The size of China's local government debts ranges from 21.9 trillion yuan to 24.4 trillion yuan, Standard Chartered said in a report. The National Audit Office in August began its first ever investigation into local government debts, and the results are expected to be released by the end of October.
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