Report says China to set up reserve centre

The People's Bank of China will set up a foreign reserve operations center in Shanghai, the China Business News has reported.

The newspaper cited unidentified sources as saying that the foreign reserve operations center will be under the control of the State Administration of Foreign Exchange.

According to the report, the central bank also plans to set up a gold reserve operations center in Shanghai, which will be managed by the central bank's Currency, Gold and Silver Bureau.

The newspaper said

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