China's central bank governor said Tuesday that the Euro has an
important position in China's foreign exchange reserve but he is
denying the intention to double China's percentage of the euro.
The Euro ranks second to the US dollar in China's foreign exchange
reserve, with the Japanese yen in third position, said Dai
Xianglong, governor of the , the country's central bank, at a press conference
hosted by the Information Office of the State Council.
He
did not reveal the specific percentages of the three
currencies.
China will adjust the make up of its foreign exchange reserve to
changes in the international financial market to keep the money
stable and safe and increase its value, Dai said.
The country's foreign exchange reserve reached US$212.2 billion in
2001, according to central bank figures.
The European Central Bank (ECB)
president Wim Duisenberg will visit China on March this year, Dai
said. China will further the cooperation with the ECB and promote
Sino-European economic and trade cooperation.
(
January 16, 2002)