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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

China prefers greenback to gold

Posted on 10 March 2010

From Globaltimes.cn: The chief currency regulator reiterated Tuesday the country’s continued commitment to invest in US Treasuries, calling the move responsible and assuring that a recent unloading of some holdings was simply part of regular market operations. China’s foreign reserves grew from $286 billion in 2002 to $2.4 trillion in 2009 to become the world’s biggest.

He added that the country is diversifying its foreign investments to spread out risks, and it has no plan to boost its gold holdings.China is looking into whether to inject more money into China Investment Corp (CIC), the country’s $300 billion sovereign wealth fund, but no decision has been made……………………………………….Full Article: Source


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