China sets up office on trusted loans of forex reserves

Updated: 2013-01-14 15:59

(Xinhua)

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BEIJING - China's central bank and foreign exchange regulator announced Monday the setting up of an office in charge of handling trusted loans of the country's foreign exchange reserves.

The office, named SAFE Co-Financing, will be an important part of innovating the use of the foreign exchange reserves to avoid value contraction, according to the State Administration of Foreign Exchange.

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