SAFE spokesman says China central bank 'sound'

The People's Bank of China is "in sound financial condition," as a result of its strategies and achievements in managing the country's foreign exchange reserves, according to a spokesman for China's State Administration of Foreign Exchange (SAFE) on Friday.

"So far as I know, the People's Bank of China is not in the red as reported by some media," said the spokesman.

The spokesman acknowledged that the holding of foreign exchange reserves will definitely carry some cost. Any central bank has to

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