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China FX chief: reserves appropriately diversified

By   || March 9, 2010 at 01:45 GMT
|| 1 comment || Add comment

Yi Gang, head of the State Administration of Foreign Exchange (SAFE) is being quoted on Reuters as saying that the Chinese FX reserves are suitably diversified and are not used for short term speculation (yeah, sure).

Also of interest is that non-state gold holdings now exceed 3000 tonnes but China faces some constraints in adding to this amount. Gold price will rise if China buys, he adds.

US Treasuries still play a vital role in China’s management of its FX reserves.

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One Response to “China FX chief: reserves appropriately diversified”

  1. Asian FX market wrap: Japanese repatriations send JPY higher | ForexLive on March 9th, 2010 05:13 GMT

    [...] China’s FX reserve chief says reserves being managed appropriately [...]

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