| China's central bank is planning to set up a variety of new funds that will make use of the country's massive foreign-exchange reserves, including special-purpose investment funds and a foreign-exchange stabilization fund dedicated to forex interventions, a local news website reported Monday, citing unnamed sources.
"Relevant authorities" are studying a proposal by the People's Bank of China to create funds using some of the forex assets from the PBOC's balance sheet that could invest in sectors such as energy and precious metals, as well as a fund that will allow the central bank to influence foreign-exchange rates, Caixin Media said, citing a source close to the PBOC..............................................Full Article: Source
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