Beijing must turn away from dollar, says PBoC official: reports

dollar-yuan

China must diversify away from US treasury bills and the dollar in general, a senior People's Bank of China (PBoC) official was quoted on Sunday as saying.

Xu Luojin, the deputy-director of the central bank's Guangzhou branch, reportedly made the remarks in an opinion column for Securities Times, a leading Chinese business newspaper. "We should change the single currency focus on buying US treasuries and adopt a more diversified structure for foreign exchange reserves to reduce risk," Reuters, a

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