China: No plan to sell dollar assets, buy oil

- Central Banking staff
- 13 Jan 2006

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China has no plan to sell off its US dollar assets, the head of the People's Bank of China, Zhou Xiaochuan, was quoted as saying in the official Shanghai Securities News.

The central bank governor also said he does not know of any plan to buy oil using China's foreign exchange reserves, according to the newspaper.

"(China) has no plan to sell off the dollar assets, neither (have I) heard of plan to buy oil using the foreign exchange reserves," the newspaper quoted Zhou as saying.

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