PBOC official sees slow dollar reserves shift

The director of the People's Bank of China's research department said on Tuesday 28 Februarythat although China is moving toward diversifying its reserves, anyone thinking the change would be quick was misunderstanding the process.

"It will take time to do so. It's a process. Every investor wants to optimise his own portfolio or investment structure but that doesn't mean that the portfolio will change overnight," said Tang Xu, replying to questions at a banking conference.

Tang told the confere