China to create worlds largest foreign currency investment company

China to create worlds largest foreign currency investment company

China is creating an investment company to get better returns on its foreign currency reserves worth $1 trillion.

The country's huge trade surplus has helped build up the world's largest currency reserves, which until now were invested mainly in US treasury bonds.

Finance minister Jin Renqing gave no details when the fund would be set up or how it would manage the money.

However, he pointed to Singapore's state investment firm Temasek as a possible model for the fund. Read More