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Sovereign Wealth Funds Briefing - Categorized | Investment, Reserve Currencies

Resources must be the destination for Chinese forex reserves

Posted on 05 January 2010

From Mineweb.co.za: China must invest its massive foreign exchange reserves in oil and other strategic resources as part of its drive to diversify away from dollar assets, a central bank official said in remarks published on Monday.

Sheng Songcheng, director of a municipal branch of the People’s Bank of China in Shenyang city, said that such investments should be made by professional investment firms, which could purchase forex from the central bank…………………………………..Full Article: Source

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