Nation Urged to Increase Holdings of Gold
By Wang Xiaotian China Daily, Beijing Tuesday, December 27, 2011
http://www.chinadaily.com.cn/usa/business/2011-12/27/content_14332943.ht...
BEIJING -- China should further diversify its foreign-exchange portfolio and make more gold purchases when the metal's price dips but is still at a relatively high level, a senior central bank official said on Monday.
"The Chinese government should not only be cautious of the imported risk caused by rising global inflation, but also further optimize its foreign-exchange portfolio and purchase gold assets when the gold price shows a favorable fluctuation," said Zhang Jianhua, director of the research bureau affiliated with the People's Bank of China (PBOC).
