China will buy 4,000 tons of gold foreign exchange reserves

In order to prevent the U.S. government 700,000,000,000 U.S. dollars rescue package led to the depreciation of the dollar and exchange rate fluctuations, China may buy more foreign exchange reserves of gold. The report quoted China Gold Association, a vice president of the words, is the decline in the price of gold for buying gold to provide the correct time. However, the central bank, a person related to the "Business News" said the gold reserves are now operating mainly in charge of State Administration of Foreign Exchange. The central bank website will regularly publish data show that the size of the gold reserves have not changed very much over the years, these reports were not true. As by the end of September, China's foreign exchange reserves 1,900,000,000,000 U.S. dollars, compared with little gold reserves. In November 2001 prior to remain at 12,670,000 ounces, in December 2001 increased to 16,080,000 ounces, a year after that again in December 2002 to 19,290,000 ounces, since there is no change in size over the years. China's huge reserve assets of how to spread the risks, to diversify investments, the market has been heated debate. However, in recent months Chinese holdings of U.S. Treasury rate has increased, the volume in September increased holdings more than 40,000,000,000 U.S. dollars, a record year in a single month high of holdings, and the total size of the holders of more than Japan and become the first in the world First, holdings of U.S. treasury bonds and short-term oriented. A source close to the Foreign Exchange Management Department said he had not heard the relevant information, even if China should increase gold reserves, will not be released.