SAFE Sets Up Agency to Invest Forex Reserves

(Beijing) – The State Administration of Foreign Exchange (SAFE) has confirmed it established a new department to invest the nation's forex reserves.

SAFE Co-financing was established in mid-2012 to diversify forex investment through market-oriented means, SAFE said in a statement.

This was in line with an important goal of SAFE and the central bank to serve Chinese companies expanding overseas, the statement said.