China’s foreign-exchange reserves, the world’s largest, topped $1 trillion for the first time, adding pressure on the government to let the yuan gain faster.

Currency assets excluding gold climbed 30 percent from a year earlier to $1.07 trillion at Dec. 31, the People’s Bank of China said on its Web site today, confirming past statements by government officials.

China’s reserves climbed from $988 billion at the end of September and $819 billion at the end of 2005. The amount is more than double the $408.5 billion estimated by the Asian Development Bank as needed for the country to guard against external shocks.

One of the reasons of this growth is its huge trade surplus.

The nation’s overall trade surplus swelled 74 percent to a record $177.5 billion in 2006 as exports surged. That with US was more than $200 billion.

 

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