BEIJING (MarketWatch) -- An executive with China Investment Corp., the country's sovereign wealth fund, said that he doesn't see a need for the country to set up any new foreign exchange-reserve investment funds, Caixin Media reported Friday on its website.
Jin Liqun, chairman of CIC's board of supervisors, said in a speech in Washington D.C that CIC has covering most investment sectors and has done a good job with its investments, Caixin reported.
Chinese media reported last month that 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.
China's foreign exchange reserves, which are the largest in the world, totaled $3.0447 trillion at the end of March, up $197.4 billion from the end of last year.
Source: www.marketwatch.com
Jin Liqun, chairman of CIC's board of supervisors, said in a speech in Washington D.C that CIC has covering most investment sectors and has done a good job with its investments, Caixin reported.
Chinese media reported last month that 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.
China's foreign exchange reserves, which are the largest in the world, totaled $3.0447 trillion at the end of March, up $197.4 billion from the end of last year.
Source: www.marketwatch.com
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