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BIZCHINA> Top Biz News
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China's forex reserve not investment fund: central banker
(Xinhua)
Updated: 2009-07-18 10:48 China's Central Bank Governor Zhou Xiaochuan said Friday that the country's foreign exchange reserve should not be seen as "an investment fund", so it should not be looked on as a profit source.
He said the increase in the reserve could bring the country many advantages, adding that agencies using foreign exchange reserve to invest should endeavor to guarantee security and value appreciation, without specifying the names of the agencies. In 2007, China set up the China Investment Corporation, with a registered capital of $200 billion. The Beijing-based company is investing in equities, fixed income and alternative assets worldwide. (For more biz stories, please visit Industries)
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