China made no major adjustment to its forex reserves management. That's according to a senior official at the country's foreign exchange regulator. Wang Xiaoyi, deputy head of the State Administration of Forex, or SAFE, says the regulator is not making a big change on how to manage foreign exchange reserves.
All operations are in line with its existing foreign exchange goal. Wang adds the country is maintaining a consistent allocation of its foreign exchange reserves across different currencies.
He says the weakening U.S. dollar is a long-term trend, not a short-term worry. Global markets have periodically been shaken by the idea China could dump dollars.
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