China may use Singapore in managing reserves

China could manage its massive foreign exchange reserves according to the "Temasek Model" of Singapore, according to Wu Xiaoling, vice-president of the People's Bank of China.

"China is likely to set up a special investment company with the government holding the majority stake," Wu told the Beijing Morning Post.

Temasek Holdings is wholly-owned by Singapore's Ministry of Finance and the company's global investment reaps an average annual return of 18 per cent.

The newspaper reported that a dele

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