Photo: Bloomberg

Photo: Bloomberg

China plans $300 bn forex investment unit

China plans $300 bn forex investment unit

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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