China's foreign reserves reached $853.7 billion (€710 billion) by the end of February and are likely to exceed Japan to become the world's largest.
Chinese central bank officials refused comment on the latest figures, reported in the newspaper China Business News, saying data on foreign exchange reserves are only released quarterly.
Those figures are due to be issued in mid-April. China's foreign currency reserves rose 34 per cent in 2005 to a record high $818.9 billion amid surging exports.
Foreign reserves have soared as China's surging exports, especially to the United States, have brought home billions of US dollars and other foreign currencies.
China's trade surplus last year reached $101.9 billion, up from $32 billion (€27 billion) the year before.