Mainland may have lost US$80bn
16-03-2009
The mainland may have lost more than US$80-billion of its foreign exchange reserves after buying into equities just before world markets collapsed last year. The Financial Times reported that the investments were carried out by the State Administration of Foreign Exchange, which manages the nation's nearly US$2-trillion of reserves. The report comes after Premier Wen Jiabao expressed concern last week over the safety of the country's huge investments in the United States.
