From Reuters as reported at CNBC:
China should speed up diversification of its $3.2 trillion foreign exchange reserves away from dollar assets to hedge against risks of the U.S. currency’s possible long-term decline, an advisor to the People’s Bank of China said on Thursday.
“We should accelerate diversification in reserve investment,” Xia Bin, an academic member of the central bank’s monetary policy committee, told Reuters in an interview.
China faces “pressures and challenges” in managing its fast-accumulating foreign exchange reserves, but the holdings may also present the country with an “unprecedented” opportunity to help its long-term development, Xia said.
China’s reserves, the world’s largest, swelled by $152.8 billion in the second quarter to a record $3.2 trillion, driven by sustained capital inflows and its large trade surplus…
Full Story: http://www.cnbc.com/id/43751064
About Jeffrey Friedland
Jeffrey Friedland is Managing Director of the financial services firms, Friedland Global Capital Pte. Ltd.(www.friedlandcapital.com), which has representatives in China, Singapore, the Philippines and Indonesia. Since 1981, the firm has facilitated growing entrepreneurial companies in emerging and frontier markets to access foreign investment capital.
Since 1979 Mr. Friedland has assisted hundreds of companies worldwide with their business planning and financing objectives. In addition to providing corporate finance advisory services, the services provided by Mr. Friedland have included obtaining venture capital, mergers and acquisitions, and assistance to companies regarding financing their growth and going public.
Mr. Friedland has traveled globally with the management of companies with the objectives of assisting the companies with obtaining capital, expanding globally and entering into strategic alliances.
Mr. Friedland has been featured or quoted in numerous publications including the Wall Street Journal, USA Today, The South China Morning Post (Hong Kong) and Forbes. He has also been featured over 60 times on Financial News Network, which is now CNBC, as well as on Bloomberg and Bloomberg TV.
Mr. Friedland has been a frequent speaker at various trade shows, conferences, conventions and meetings throughout North America, Europe and Asia, and at Bloomberg sponsored events, including in London.
Mr. Friedland is the author of "All Roads Lead to China," an Investor Road Map to the World's Fastest Growing Economy, which is available in print and Kindle editions at Amazon.
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