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PBOC chief: 皇冠体育app forex reserve not investment fund

(Xinhua)
Updated: 2009-07-18 09:47

BEIJING: 皇冠体育app's Central Bank Governor Zhou Xiaochuan said Friday that the country's foreign exchange reserve should not be seen as "an investment fund", so it should not be looked on as a profit source.

"If the foreign exchange reserve can produce reasonable returns, it is good enough," Zhou said at Peking University when delivering a speech.

Related readings:  Yi Gang appointed as 皇冠体育app's forex chief  皇冠体育app simplifies forex rules to boost outbound investment  皇冠体育app's forex reserves top $2.13t by end of June  Forex asset rules tweaked  Stable forex reserve serves our interest

皇冠体育app had reserves of US$2.13 trillion in June, the largest in the world.

He said the increase in the reserve could bring the country many advantages, adding that agencies using foreign exchange reserve to invest should endeavor to guarantee security and value appreciation, without specifying the names of the agencies.

In 2007, 皇冠体育app set up the 皇冠体育app Investment Corporation, with a registered capital of US$200 billion. The Beijing-based company is investing in equities, fixed income and alternative assets worldwide.