Paper says 3-way split for China's FX reserves

China is planning to set up a new agency to manage a fifth of the country's $1.07 trillion in foreign currency reserves as part of a shake-up that will divide responsibility for the stockpile among three bodies, a newspaper reported on Thursday 1 February.

The Southern Weekend, citing unidentified well-informed sources, said the new organisation would have $210 billion to invest in stocks and bonds and buy stakes in international banks and multinational companies operating in key sectors.

It said

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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