Risk management and internal control of the foreign exchange reserve business will be carried out, according to China's currency regulator. -- PHOTO: REUTERS
BEIJING - CHINA will redouble efforts to contain the risks involved in managing the country's foreign exchange reserves, the currency regulator said on Wednesday.
In a statement distributed to reporters ahead of a news conference, the State Administration of Foreign Exchange said it would ensure that China's US$2 trillion (S$3.05 trillion) in official reserves would be the ultimate bulwark against global financial risks.
China would also help facilitate trade finance to support economic growth and pay close attention to cross-border capital flows, the agency said.
'We actively reinforce the risk management and internal control of the foreign exchange reserve business and do well relevant emergency preparation to ensure the overall security of the foreign exchange reserve capital,' the English-language statement said.
SAFE, which manages China's reserves, said it had noted a slowdown in net capital inflows in the second half of last year due to the international financial crisis. -- REUTERS
