The Foreign exchange reserves of the People's Republic of China are mainly composed of US dollar in the forms of US government bonds and institutional bonds, and excludes reserves held by Hong Kong and Macau. As of the end of March 2011, the reserve holds $3.0447 trillion, making it the highest foreign exchange reserve in the world and far exceeded holdings of the next largest holder, Japan (~$1 trillion). The reserve is governed by State Administration of Foreign Exchange and People's Bank of China all of which are under operation of the Bank of China. An estimated two-thirds of these reserves are held in dollar-denominated assets.
China also manages $200 billion to $400 billion in additional foreign exchange assets that are not counted as official reserves, the China Investment Corporation.
Read more about Foreign Exchange Reserves Of The People's Republic Of China: Composition, Diversification
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