China FX regime suitable, says PBOC's Fan

People's Bank of China advisor Fan Gang said Tuesday 10 October China has few alternatives to the dollar in terms of its reserve holdings, despite the risk of losses if the greenback falls.

"We currently don't have any other alternatives or choices ... we may choose to hold more European and Japanese assets, but our main trade partner is the US and our payments are in US dollars," Fan, who recently became a member of the People's Bank of China's (PBOC) monetary policy committee, said at an eve

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