Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
Official: China forex reserve investments remain profitable
+ -
16:38, April 24, 2009

 Related News
 Economists call for diversified, competitive global reserve system
 Growth rate of forex reserve falls
 China to continue efforts on regional forex reserve pooling scheme
 China's forex reserve reaches $1.809 trillion by June
 Forex reserves hit $1.68 trillion
 Comment  Tell A Friend
 Print Format  Save Article
China said Friday that its investments of foreign exchange reserves remained profitable last year despite the global financial crisis that sent financial assets shrinking in value, dispelling concerns of huge losses with such investments.

"We managed to get some proceeds from managing the country's foreign exchange reserves last year, while at the same time maintaining the safety and liquidity of the assets," Hu Xiaolian, head of the State Administration of Foreign Exchange (SAFE), told Xinhua in an interview.

China's overseas earnings reached 82.5 billion U.S. dollars in 2008, up 8 percent from a year earlier, according to the country's balance of payments statistics released Friday by the SAFE.

Hu said "a considerable proportion" of such earnings were from investments of forex reserves, without revealing specific figures.

"Such earnings from forex reserves investment, though represented a lower rate of profit from previous years, were hard-earned," she said.

Hu said that diversified investments in different assets and assorted holding in various currencies have played a major role in producing the proceedings.

"The value of assets has been kept stable on the whole, as diversified investments in different assets and currencies are highly complementary," she said.

Source: Xinhua



  Your Message:   Most Commented:
Don't hate the rich, be one of them
Can Dalai Lama's lie deceive the world for long?
Jackie Chan's 'freedom' talk sparks debate
India's drill report 'surprises' Chinese govt
On Serfs Emancipation Day, celebration, recollection, and wishes from across China

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/90857/90862/6644761.pdf