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Zhu was both listed as a possible candidate by BBC and AP, with many anticipating emerging markets' growing voice at the IMF.

China cut its holdings of U.S. Treasury debt for the fifth consecutive month since last November by 9.2 billion U.S. dollars in March.

The abrupt arrest of Dominique Strauss-Kahn, head of the International Monetary Fund, has raised various suspicions at a critical juncture of the restructuring of debt in Greek, considering the huge stock of global forex market.

China’s trade surplus this year is expected to drop to 100 billion U.S. dollars, or roughly 1-1.5 percent of GDP.

China has become the largest overseas holder of its long-term bonds and notes, after it bought another 234.5 billion yen of long-term bonds in March.

Chinese Vice Premier Li Keqiang Thursday called for a reduction of disorderly global capital flows and defenses against global inflation.

Eight percent of China’s cross-border transactions with foreign companies will be settled in the Chinese currency, the yuan or renminbi this year.

CPI grew 5.3 percent in April; PPI ups 6.8 percent and new bank lending dropped 20.8 billion yuan from March to 739.6 billion.

Exports grew 29.9 percent to 155.69 billion U.S. dollars in April while imports rose 21.8 percent to 144.26 billion, bringing a trade surplus of 11.43 billion.

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