Caixin OnlineFinance & EconomicsTop Stories Finance China Taps Forex Stash for Globalization Cash
01.17.2013 12:06

China Taps Forex Stash for Globalization Cash

Through banks, the government's forex manager is channeling China's dollar reserves into overseas business projects
By staff reporters Zhang Yuzhe, Li Xiaoxiao and Li Qing
 
a

(Beijing) — Securing U.S. dollars for overseas investments is getting easier now that the State Administration of Foreign Exchange (SAFE) has opened a direct channel for funneling some of China's US$ 3 trillion in forex cash to the lending arms of state-run banks.

The service launched last summer reflects a government initiative to widen the scope of forex investments announced last year by People's Bank of China Governor Zhou Xiaochuan, whose agency oversees SAFE.

We hope you have enjoyed your free articles for the month
REGISTER to get 5 more free articles, or SUBSCRIBE to get full access to Caixin
Already a subscriber? Log in now
COMMENTS (0)
Sign up to receive our free daily newsletter

LATEST VIDEOS

Latest Issue
On the Cover:

Which Way for China's Economy?

One road leads to deflation-fighting stimulus spending, the other to digging out of stimulus-induced debt


Issue 91
July, 2015

POPULAR GALLERIES

SUBSCRIPTIONS

Caixin-China
Economics & Finance
Latest Issue:
Which Way for China's Economy?
One road leads to deflation-fighting stimulus spending, the other to digging out of stimulus-induced debt
Issue 91
07.01.2015

Subscribe       |       Newsletter        |        FAQ