Dec. 22 (Bloomberg) -- China’s foreign-exchange reserves dropped for the first time in five years as a result of the global financial crisis, Market News International reported, citing Cai Qiusheng, head of the investment management bureau under the State Administration of Foreign Exchange.

The current figure must be lower than the peak of about $1.9 trillion, Cai told a trade forum in Beijing over the weekend, the English-language wire service said. He didn’t specify which period he was referring to or give a figure.

China’s foreign exchange reserves $1.9 trillion at the end of September, according to Bloomberg date.

To contact the reporter on this story: Jiang Jianguo in Shanghai at jjiang@bloomberg.net

Last Updated: December 21, 2008 19:07 EST