China for the first time began to provide the IMF information about its official foreign exchange reserves

Almaty. October 1. Silkroadnews - China for the first time began to submit to the International Monetary Fund (IMF) information on its official foreign exchange reserves, reported the agency TASS.
"I can confirm the participation of China in the review of COFER (Composition of official foreign exchange reserves), in line with best international practice", - said in a statement on this occasion the head of the press service of the fund Jerry Rice.
In this case, we are talking about information for the second quarter of this year. The total volume of reserves reported to the IMF amounted to $11.5 trillion. In the previous quarter, the amount was less - $11.4 trillion. As part of the reserves significantly increased the share of the US dollar - up to 58.2% against 53% in the previous report.
This time, China submitted to the IMF incomplete information about their assets, but it reflects the pattern of provision in general. In the next 2-3 years, Beijing intends to go to the full reporting.
At the end of this year,in  the IMF should be completed the next review of the basket of reserve currencies on the basis of which the Fund forms its own unit of account - the so-called "special drawing rights". Now this basket contains the US dollar, Euro, Pound sterling and Yen. China has the second largest economy in the world and relies on the inclusion of the yuan in the basket, but for this it is necessary to fulfill a number of preconditions.
COFER - a database of the IMF, which reflects the composition of official foreign exchange reserves of 146 member countries. In total, the Fund shall consist of 188 countries, but the participation in this particular project is voluntary. Even among the participants only 96 publicly admit it. The data provided by each country are kept in strict confidence.