China mulls reserves shift to liquid assets

People's Bank of China officials revealed more on Tuesday 10 January as to how they are likely to manage their foreign-exchange reserves, saying they won't sell off a large amount of existing US dollar holdings but may move some reserves into other assets such as oil.

Speaking to reporters in Beijing on Tuesday, Tang Xu, director-general of the Research Bureau under the People's Bank of China, said the country "doesn't exclude buying oil for (oil) reserves," according to Dow Jones Newswires.