Economist calls for more speed on China FX

China should step up efforts to establish its promised foreign exchange investment agency in order to strengthen macroeconomic controls, a prominent government economist said on Sunday 1 April.

Xia Bin, director of the financial division of the Development Research Centre under the State Council, or cabinet, said China made the right decision to build a new agency to manage part of its $1.07 trillion in foreign exchange reserves.

"We should speed up research and preparation for the foreign exc