China Will Change Foreign Exchange Investment
China’s government said it would change the strategy of investing in foreign currency reserves which now reach 2.5 trillion U.S. dollars.
State Foreign Exchange Administration Bureau (SAFE) does not give any explanation to such exchange will be allocated. Government of China has not confirmed will change the type of asset allocation and currency to be used.
Previously, the Government of China had announced that their investments in Europe a key market for the fund is currently investing their wealth. The economists estimate, China invested 65 percent-70 percent of their funds in the form of United States dollars, while 20 percent-25 percent of the rest in euros.
“China will adopt a prudent and active principles in managing their wealth,” SAFE said in his statement on the website.
Description is made when Foreign Minister Qin Gang said that the government need not be too worried about the debt they hold. The statement is a comment on the statement made by the U.S. Senate, who asked Obama and his cabinet to check and manage the risks of U.S. foreign debt.
“It should not be politicized,” said Qin. He affirmed that anyone who sells bonds must comply with prevailing market
Tags: currency, investment, strategy
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