BackChina plans $300 bn forex investment unit
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09 Dec 2011, 11:34 PM IST
China plans $300 bn forex investment unit
PremiumPhoto: Bloomberg
Beijing: China’s central bank plans to create a new vehicle to manage investment funds worth a total of $300 billion to improve returns on the world’s largest stockpile of foreign exchange reserves, a person with knowledge of the matter told ‘Reuters’.
Photo: Bloomberg
The vehicle’s goal is to make more aggressive overseas investments for higher returns, said the source along with a second, independent source, who also declined to be named.
The People’s Bank of China, the central bank, was not immediately available for comment.
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Published: 09 Dec 2011, 11:34 PM IST
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