China needs large FX holding, says SAFE

- Central Banking staff
- 25 Jul 2006

China's economic conditions make it necessary for the holding of large levels of foreign exchange reserves, the official Shanghai Securities News reported Tuesday 25 July, citing Wei Benhua, deputy director of the State Administration of Foreign Exchange.

"China is a big country ... and its economy is still quite backward in many aspects. The country still has (huge) demand for energy and mineral products imports," Wei said at a conference.

As such, "China should have adequate forex reserves to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: subscriptions.centralbanking.com/subscribe

You are currently unable to print this content. Please contact info@centralbanking.com to find out more.

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.

If you would like to purchase additional rights please email info@centralbanking.com test test test

You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.

If you would like to purchase additional rights please email info@centralbanking.com test test test