Report says China to set up FX investment unit

The Chinese government is expected to introduce a number of foreign exchange reform measures this year including setting up a state forex investment company, the China Securities Journal reported Thursday 1 February, citing an unnamed state official.

The government is likely to reorganize the central bank's investment arm, China Huijin Investment, into the forex company, which will buy and invest in foreign exchange reserves, using funds raised from the issue of yuan-denominated bonds, the rep