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Sovereign Wealth Funds Briefing - Categorized | People, Reserve Currencies

China can’t use reserves to ‘rescue’ countries, Fu says

Posted on 05 December 2011

China can’t use its $3.2 trillion in foreign exchange reserves to “rescue” European nations and the country “has done its part” to help the region deal with its financial crisis, Vice Foreign Minister Fu Ying said.
“Foreign reserves are not revenues,” Fu, whose portfolio is European affairs, said in a question and answer session following a speech in Beijing yesterday. “It’s not money that can be used by the premier or the finance minister.”……………………………………….Full Article: Source


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