Submitted by: kirkland on Monday October 23rd, 2006 at 08:43 PM EST

Foreign exchange reserves are likely to increase to 1.5 trln usd by the second quarter of 2008 and two trln by the end of 2010, a leading Chinese economist said.

Zhong Wei, a professor with Beijing Normal University and an adviser to the government, proposed in a report published in the People's Daily that the country should set up a new regime for the efficient management and of the reserves.

Forex reserves totaled 769 bln usd at the end of last month, up 50 pct from a year earlier.

» Full story @ Forbes