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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, Reserve Currencies

China cbank plans new $10bln forex reserve vehicle

Posted on 10 May 2012

China’s central bank plans to give $10 billion from its huge pile of foreign exchange reserves to a new entity to assist Chinese state firms invest abroad, four sources with direct knowledge of the matter said on Wednesday.
The People’s Bank of China is in talks with China Reform Holdings Corporation Ltd, a state firm controlled by the State-owned Asset Supervision and Administration Commission, to set up a joint venture, probably abroad, the sources told Reuters………………………………………..Full Article: Source


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