China last week cut the weighting of the US dollar in a basket of foreign currencies used to determine the strength of the yuan. Photo: ReutersChina last week cut the weighting of the US dollar in a basket of foreign currencies used to determine the strength of the yuan. Photo: Reuters
China last week cut the weighting of the US dollar in a basket of foreign currencies used to determine the strength of the yuan. Photo: Reuters
Economy /  China Economy

China pledges ‘prudence’ in diversifying its foreign exchange reserves in 2020 as global risks rise

  • China will carefully push ahead with diversification of its US$3.1 trillion foreign exchange reserve holdings, says the State Administration of Foreign Exchange
  • The regulator says it will improve its management of reserves ‘with Chinese characteristics’, but has not elaborated on what that means
Topic |   China economy
Karen Yeung
Karen Yeung

Updated: 11:26pm, 6 Jan, 2020

Why you can trust SCMP
China last week cut the weighting of the US dollar in a basket of foreign currencies used to determine the strength of the yuan. Photo: ReutersChina last week cut the weighting of the US dollar in a basket of foreign currencies used to determine the strength of the yuan. Photo: Reuters
China last week cut the weighting of the US dollar in a basket of foreign currencies used to determine the strength of the yuan. Photo: Reuters
READ FULL ARTICLE