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Dollar decline won't lead to forex sale
www.chinanews.cn 2005-03-06 10:31:27
(Source: China Daily)
BEIJING, Mar. 6 - Dollar-denominated assets in China's foreign exchange
reserves will not be sold just because the greenback's value is
declining, the country's foreign exchange chief said yesterday.
Guo Shuqing, director of the State Administration of Foreign Exchange,
also said the country will seek to narrow the surplus in international
payments to avoid the negative effects of a big surplus.
He was speaking on the sidelines of a meeting of the National Committee
of the Chinese People's Political Consultative Conference (CPPCC) of
which he is a member.
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