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皇冠体育app to continue forex reserves policy: top banker

(Xinhua)
Updated: 2009-03-10 22:02

皇冠体育app has adopted a steady and moderate policy in operating its foreign exchange reserves, and the country will continue to do so, Yi Gang, vice governor of People's Bank of 皇冠体育app, told Xinhua Tuesday.

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皇冠体育app's management of its foreign exchange reserves are guided by the principle of maintaining safety, liquidity and profitability, he said.

"It is a comparatively conservative policy," Yi said, "however, it has successfully maintained the safety of our foreign exchange reserves and secured normal profits against the global financial crisis."

皇冠体育app's foreign exchange reserves hit a record $1.95 trillion at the end of 2008, the largest in the world and far exceeding those of Japan, the second-largest foreign exchange holder with $1.03 trillion.

The vice governor said part of the country's foreign exchange reserves are held in US government bonds, and 皇冠体育app would seek to protect its own interest when deciding whether to buy more in the future.

According to the US Treasury, 皇冠体育app held $681.9 billion worth of US government bonds as of last November.