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Investment of China's foreign exchange reserve has seen "relatively good" yields despite global economic woes, while asset safety remains the base line for the country's foreign reserve investment.
"Risk prevention and management is always our priority," Yi Gang, director of the State Administration of Foreign Exchange (SAFE), said Tuesday on the sidelines of the annual session of the National People's Congress (NPC),the country's top legislature.
Yi, also vice governor of the People's Bank of China, the country' s central bank, said China has built a diversified currency portfolio for its foreign exchange reserves, including U.S. dollar, Euro and currencies of some emerging countries. However, he did not specify which currencies.
China has fully considered risk control in the allocation of currencies and assets, and high-risk products such as subprime mortgages and collateralized debt obligations are not included in its investment list, he said.
Yi noted that China succeeded in preserving the general security of foreign exchange reserves in both 2008 and 2009, the most challenging years during the financial crisis.
At the end of 2009, the country's foreign exchange reserves stood at 2.3992 trillion U.S. dollars. |
