BEIJING: China has maintained a consistent allocation of its foreign exchange reserves across different currencies, a senior official said yesterday, suggesting that any diversification away from the dollar has been gradual.
Wang Xiaoyi, deputy head of the State Administration of Foreign Exchange, which manages China’s US$2.3 trillion of currency reserves, also said the weakening of the dollar was a long-term trend, not a near-term worry.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!