China needs to diversify its massive holding of foreign exchange reserves to prevent consistent devaluation amid volatile global economic conditions, a leading Chinese economist said on Tuesday.
"The portfolio of China's foreign exchanges should be adjusted based on changing conditions," said said Li Yining, also a member of the National Committee of the Chinese People's Political Consultative Conference, the top advisory body.
"China should moderately increase the size of gold in its foreign exchange reserves," Li said at plenary session of the CPPCC National Committee.
"The portfolio of China's foreign exchanges should be adjusted based on changing conditions," said said Li Yining, also a member of the National Committee of the Chinese People's Political Consultative Conference, the top advisory body.
"China should moderately increase the size of gold in its foreign exchange reserves," Li said at plenary session of the CPPCC National Committee.
