07.08.2013 - China: Central bank eyes new agency for forex investment
Central bank hopes agency separate from sovereign wealth fund would improve returns on its US$3.5 trillion reserves, sources say. The People's Bank of China (PBOC) is working on a plan to establish a new government agency to invest its US$3.5 trillion of foreign exchange reserves abroad more efficiently. The new agency would be in addition to the China Investment Corp (CIC), the nation's sovereign wealth fund. The information was given to the South China Morning Post by two sources close to the central bank..............................................Full Article: Source
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