Investment Updates News
- New forex agency to mainly invest overseas
Date: 20-Mar-2007 Sources: (Shenzhen Daily)
THE country's new foreign exchange investment agency will mainly invest its assets overseas to avoid adding liquidity to the domestic market, the Economic Observer reported yesterday, citing an unnamed participant at the Central Government's January financial work meeting.
The person said the agency, which could be launched as early as the first half, may buy equities, corporate bonds and financial derivatives but would focus less on government bonds with yields under 4 percent. The forex agency will likely replace China Central Huijin Investment Co. and take over all the investment company's debt and staff, the person said.
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