PBOC proposes bond issue to buy forex reserves

China's state media quoted a People's Bank of China official as saying Wednesday 25 April that the planned FX reserve agency should issue special treasury bonds to buy reserves to invest abroad.

The Oriental Morning Post reported Xiang Junbo, deputy governor of the People's Bank of China, as saying in a speech at Fudan University that the PBOC will further expand investment channels for its foreign exchange reserves.

China should also increase gold reserves and strategic resources like oil and